As the dot-com bubble reached its apex in 2000, gold languished near twenty-year lows, dismissed as a barbarous relic by a market intoxicated with technology stocks. It was, in hindsight, the calm before the storm. Within a year the bubble would burst, the 2001 bull market would begin, and gold would embark on a decade-long climb to the 2011 record. The deepest pessimism, as so often, marked the best opportunity.
Gold Price History · The Free-Float Era
2000
The Bottom of the Cycle
At the peak of the dot-com mania, gold was utterly unloved — and about to begin its greatest bull run.
- Average price
- $279/oz
- In 2025 dollars
- $522/oz
- Change on the year
- +0.1%
- After inflation
- −3.1%
2000 in context · real value, 1980–2020
What would $10,000 of gold in 2000 be worth today?
Run the numbers across gold, stocks, housing, and bonds — adjusted for inflation.
Calculate 2000 →How gold did in 2000
Value at year-end of $10,000 invested on 1 January 2000.
Gold $10,014 +0.1%
S&P 500 (total return) $9,097 −9.0%
US housing $10,925 +9.2%
Inflation (CPI) $10,336 +3.4%
Annual-average basis. Gold: Officer & Williamson; S&P 500 & Treasuries: Damodaran (NYU); housing: Shiller; CPI: BLS. Methodology →
Related years
Sources. Gold price: Officer & Williamson, The Price of Gold, 1257–Present (annual average); inflation adjustment by US CPI (BLS / Officer & Williamson). Asset comparison from the calculator dataset. Figures are annual averages. Full methodology →