MarketsSep 2, 2024

📈 Gold Prices Soared Above Money Supply Growth in Advanced Economies

@Soltani

📈 Gold Prices Soared Above Money Supply Growth in Advanced Economies

There has been a considerable correlation between gold prices and the broad money supply in advanced economies since 2000. In 2024, gold prices soared above the growth rate of the money supply in these economies.

Dataset

Gold Prices vs. Money Supply in Advanced Economies

	Gold Price (US$/oz)	Broad Money in Advanced Economies (Trillion US$)
2000-01	284	23
2000-02	300	23
2000-03	286	23
2000-04	280	23
2000-05	275	23
2000-06	286	23
2000-07	282	23
2000-08	274	23
2000-09	274	23
2000-10	270	22
2000-11	266	22
2000-12	271	22
2001-01	265	23
2001-02	262	23
2001-03	263	22
2001-04	260	22
2001-05	272	22
2001-06	270	22
2001-07	268	22
2001-08	272	23
2001-09	283	23
2001-10	283	23
2001-11	276	23
2001-12	276	23
2002-01	282	22
2002-02	296	22
2002-03	294	23
2002-04	303	23
2002-05	314	23
2002-06	321	24
2002-07	313	25
2002-08	310	25
2002-09	319	25
2002-10	317	25
2002-11	319	25
2002-12	332	25
2003-01	357	26
2003-02	359	26
2003-03	341	26
2003-04	328	26
2003-05	356	27
2003-06	356	27
2003-07	351	27
2003-08	360	27
2003-09	379	28
2003-10	379	29
2003-11	390	29
2003-12	407	29
2004-01	414	30
2004-02	405	30
2004-03	407	30
2004-04	403	30
2004-05	384	29
2004-06	392	30
2004-07	398	30
2004-08	401	30
2004-09	405	30
2004-10	420	31
2004-11	439	32
2004-12	442	32
2005-01	424	32
2005-02	423	32
2005-03	434	33
2005-04	429	32
2005-05	422	32
2005-06	431	32
2005-07	424	31
2005-08	438	32
2005-09	456	32
2005-10	470	32
2005-11	477	31
2005-12	510	32
2006-01	550	32
2006-02	555	32
2006-03	557	32
2006-04	611	33
2006-05	675	34
2006-06	596	34
2006-07	634	34
2006-08	633	34
2006-09	598	34
2006-10	586	34
2006-11	628	35
2006-12	630	35
2007-01	631	35
2007-02	665	35
2007-03	655	36
2007-04	679	36
2007-05	667	37
2007-06	656	37
2007-07	665	37
2007-08	665	38
2007-09	713	38
2007-10	755	39
2007-11	806	40
2007-12	803	40
2008-01	890	41
2008-02	922	41
2008-03	968	43
2008-04	910	43
2008-05	889	43
2008-06	889	43
2008-07	940	43
2008-08	839	42
2008-09	830	41
2008-10	807	41
2008-11	761	40
2008-12	816	42
2009-01	859	42
2009-02	943	41
2009-03	924	41
2009-04	890	41
2009-05	929	42
2009-06	946	43
2009-07	934	44
2009-08	949	44
2009-09	997	45
2009-10	1,043	45
2009-11	1,127	46
2009-12	1,135	45
2010-01	1,118	45
2010-02	1,095	45
2010-03	1,113	44
2010-04	1,149	44
2010-05	1,205	43
2010-06	1,233	43
2010-07	1,193	44
2010-08	1,216	45
2010-09	1,271	46
2010-10	1,342	47
2010-11	1,370	47
2010-12	1,391	46
2011-01	1,360	47
2011-02	1,375	47
2011-03	1,423	48
2011-04	1,481	49
2011-05	1,513	49
2011-06	1,529	49
2011-07	1,573	50
2011-08	1,759	51
2011-09	1,772	50
2011-10	1,666	50
2011-11	1,739	49
2011-12	1,640	49
2012-01	1,654	49
2012-02	1,745	50
2012-03	1,676	49
2012-04	1,649	49
2012-05	1,589	49
2012-06	1,599	49
2012-07	1,594	49
2012-08	1,630	50
2012-09	1,745	51
2012-10	1,747	51
2012-11	1,722	50
2012-12	1,685	51
2013-01	1,672	50
2013-02	1,628	50
2013-03	1,593	49
2013-04	1,488	49
2013-05	1,414	48
2013-06	1,343	49
2013-07	1,286	49
2013-08	1,352	49
2013-09	1,349	50
2013-10	1,317	51
2013-11	1,276	50
2013-12	1,222	50
2014-01	1,244	50
2014-02	1,300	51
2014-03	1,336	51
2014-04	1,298	51
2014-05	1,289	51
2014-06	1,279	51
2014-07	1,311	52
2014-08	1,295	51
2014-09	1,237	50
2014-10	1,222	50
2014-11	1,175	49
2014-12	1,201	49
2015-01	1,251	48
2015-02	1,227	48
2015-03	1,179	47
2015-04	1,199	47
2015-05	1,199	48
2015-06	1,182	48
2015-07	1,128	48
2015-08	1,118	48
2015-09	1,125	48
2015-10	1,159	48
2015-11	1,086	48
2015-12	1,076	48
2016-01	1,098	48
2016-02	1,200	49
2016-03	1,245	50
2016-04	1,242	51
2016-05	1,261	51
2016-06	1,276	52
2016-07	1,337	52
2016-08	1,340	52
2016-09	1,327	53
2016-10	1,267	52
2016-11	1,238	51
2016-12	1,157	50
2017-01	1,192	51
2017-02	1,234	52
2017-03	1,231	52
2017-04	1,267	52
2017-05	1,246	53
2017-06	1,260	54
2017-07	1,237	54
2017-08	1,283	55
2017-09	1,314	55
2017-10	1,280	55
2017-11	1,282	55
2017-12	1,264	55
2018-01	1,331	57
2018-02	1,331	57
2018-03	1,325	58
2018-04	1,335	58
2018-05	1,303	57
2018-06	1,282	56
2018-07	1,238	56
2018-08	1,202	56
2018-09	1,198	56
2018-10	1,215	56
2018-11	1,221	56
2018-12	1,250	56
2019-01	1,292	57
2019-02	1,320	57
2019-03	1,301	57
2019-04	1,286	57
2019-05	1,284	57
2019-06	1,359	58
2019-07	1,413	58
2019-08	1,500	58
2019-09	1,511	58
2019-10	1,495	58
2019-11	1,471	59
2019-12	1,479	59
2020-01	1,561	59
2020-02	1,597	59
2020-03	1,592	60
2020-04	1,683	62
2020-05	1,716	63
2020-06	1,732	65
2020-07	1,847	66
2020-08	1,969	67
2020-09	1,922	67
2020-10	1,900	68
2020-11	1,866	69
2020-12	1,858	70
2021-01	1,867	71
2021-02	1,808	71
2021-03	1,718	71
2021-04	1,760	72
2021-05	1,850	73
2021-06	1,835	73
2021-07	1,808	72
2021-08	1,785	73
2021-09	1,775	73
2021-10	1,777	73
2021-11	1,822	73
2021-12	1,790	73
2022-01	1,816	73
2022-02	1,856	73
2022-03	1,948	72
2022-04	1,937	71
2022-05	1,849	70
2022-06	1,837	70
2022-07	1,733	69
2022-08	1,765	69
2022-09	1,681	67
2022-10	1,664	67
2022-11	1,725	68
2022-12	1,798	70
2023-01	1,898	71
2023-02	1,855	70
2023-03	1,913	70
2023-04	2,000	70
2023-05	1,992	70
2023-06	1,943	69
2023-07	1,951	70
2023-08	1,919	69
2023-09	1,916	68
2023-10	1,916	68
2023-11	1,984	69
2023-12	2,026	70
2024-01	2,034	70
2024-02	2,023	69
2024-03	2,158	70
2024-04	2,331	69
2024-05	2,351	69
2024-06	2,326	69
2024-07	2,398
2024-08	2,500

Data sources

https://www.econovis.net/https://www.worldbank.org/en/research/commodity-markets

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Ehsan Soltani

@Soltani

Economist and Data Visualizer

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📈 Gold Prices Soared Above Money Supply Growth in Advanced Economies

Dataset

Data sources

Ehsan Soltani