2005 saw gold's bull market shift into a higher gear, with the metal posting strong gains and breaking out against not just the dollar but other major currencies too — a sign of broad-based demand. A weakening dollar, rising oil prices, and growing investor appetite for hard assets all contributed. The arrival of gold exchange-traded funds the year before had opened the floodgates to institutional and retail money alike, and the climb toward the 2011 peak was now well established.
Gold Price History · The Free-Float Era
2005
The Climb Steepens
Mid-decade, gold’s ascent accelerated as global investors piled into a maturing bull market.
- Average price
- $444/oz
- In 2025 dollars
- $733/oz
- Change on the year
- +8.6%
- After inflation
- +5.1%
2005 in context · real value, 1985–2025
What would $10,000 of gold in 2005 be worth today?
Run the numbers across gold, stocks, housing, and bonds — adjusted for inflation.
Calculate 2005 →How gold did in 2005
Value at year-end of $10,000 invested on 1 January 2005.
Gold $10,862 +8.6%
S&P 500 (total return) $10,483 +4.8%
US housing $11,351 +13.5%
Inflation (CPI) $10,339 +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 →