By 2002, gold had broken out above the range that had contained it for years, confirming that the bull market begun in 2001 was real. The bursting of the tech bubble, aggressive Federal Reserve rate cuts, a weakening dollar, and post-9/11 uncertainty all pushed investors back toward the metal. The decade's defining trend was now in motion — a steady, powerful climb that would carry gold from around $250 to $1,920 by 2011.
Gold Price History · The Free-Float Era
2002
The Bull Confirms
Gold broke decisively higher, confirming that a new secular bull market had truly begun.
- Average price
- $310/oz
- In 2025 dollars
- $554/oz
- Change on the year
- +14.3%
- After inflation
- +12.5%
2002 in context · real value, 1982–2022
What would $10,000 of gold in 2002 be worth today?
Run the numbers across gold, stocks, housing, and bonds — adjusted for inflation.
Calculate 2002 →How gold did in 2002
Value at year-end of $10,000 invested on 1 January 2002.
Gold $11,426 +14.3%
S&P 500 (total return) $7,803 −22.0%
US housing $10,956 +9.6%
Inflation (CPI) $10,158 +1.6%
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 →