28 December 2023
The LBMA London Gold Price has broken its all-time record as 2023 draws to a close, marking a significant milestone in gold’s rapid appreciation throughout the year. Opening at $1835.05 on January 3, the precious metal has seen a substantial gain of $232.10 or 12.65%, reaching new heights by the year’s end. This remarkable surge represents a 633.7% increase since the start of the century, highlighting gold’s enduring appeal as a reliable store of value. Ruth Crowell, CEO of LBMA, emphasized gold’s role as the preferred safe haven for investors during times of economic and geopolitical instability. This record-setting achievement is part of a long history of gold pricing, dating back to the first London gold price auction on September 12, 1919, now known as the LBMA Gold Price.