Gold Price in 2002

In 2002, the price of gold averaged $310 per troy ounce, up 14.4% from the year before. This page covers the 2002 average, high, low, and year-end close, the events that moved the market, and what that gold would be worth in today's dollars.

2002 Average

$310

LBMA annual average, USD/oz

Change vs 2001

+14.4%

from $271 in 2001

2002 High

$355

from daily trading data

2002 Low

$277

from daily trading data

Year-End Close

$348

last trading day of 2002

What happened to the gold price in 2002

Gold averaged $310 per troy ounce in 2002, up 14.4% from $271 the year before. Daily trading data shows gold moved between a low of $277 and a high of $355 during the year, ending 2002 at $348. The notable development of 2002: War on Terror escalates.

The 2000s brought gold's modern bull market. The dot-com bust, the September 11 attacks, a weakening dollar, and finally the 2008 financial crisis rebuilt investment demand, carrying gold past $1,000 per ounce for the first time.

Adjusted for inflation, gold's 2002 average of $310 equals about $555 in today's dollars. The conversion uses US Bureau of Labor Statistics CPI-U annual averages, so treat it as a close approximation rather than an exact figure.

Frequently Asked Questions

What was the price of gold in 2002?

Gold averaged $310 per troy ounce in 2002, based on LBMA annual average data. Daily prices ranged from a low of $277 to a high of $355, and the year closed at $348. That average was up 14.4% from $271 in 2001.

What is a 2002 gold price worth in today's dollars?

Adjusted with the US Consumer Price Index, gold's 2002 average of $310 works out to roughly $555 in today's dollars, using 2025 as the CPI base year. The conversion uses BLS CPI-U annual averages, so treat it as a close approximation rather than an exact figure.

What moved the gold price in 2002?

The defining story of 2002: War on Terror escalates. Against that backdrop, the annual average climbed 14.4%, from $271 in 2001 to $310.

Annual averages are LBMA prices per troy ounce in US dollars. Where shown, the yearly high, low, and close come from MetalCharts daily historical data and may differ slightly from figures published elsewhere. Inflation adjustments use BLS CPI-U annual averages.