Gold Returns since 1998

Gold investment returns since 1998

If you invested $100 in gold at the beginning of January 1998, you would have about $1,395.74 by August 2026. This is a return on investment of 1,295.74%, or 9.66% per year.

This investment beats inflation during this period for an inflation-adjusted return of about 573.33% cumulatively, or 6.90% per year.

Contents

Overview
Adjusting for inflation
Full monthly data
Gold vs S&P 500
Data source & citation

The graph below shows the performance of $100 invested in gold over time.

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Adjusting gold return for inflation

The nominal return on investment of $100 is $1,295.74, or 1,295.74%. This means by August 2026 you would have $1,395.74 worth of gold.

However, it's important to take into account the effect of inflation when considering an investment. Gold is often considered a hedge against inflation, so let's see how it actually performed.

The CPI in January 1998 was 161.600 and the CPI in August 2026 was 334.980.

Adjusted for inflation, the $1,395.74 nominal end value would have a real return of roughly $573.33 in 1998 dollars. This means the inflation-adjusted return is 573.33% as opposed to the original 1,295.74%.

For more information on inflation, see our U.S. inflation calculator for 1998.

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Full monthly data

The table below shows the full dataset pertaining to a $100 gold investment over the 344-month period between 1998 and 2026.

Year	Month	Gold Price ($)	Return (%)	Amount ($)
1998	1	289.00	0.00%	100.00
1998	2	297.00	2.77%	102.77
1998	3	296.00	2.42%	102.42
1998	4	308.00	6.57%	106.57
1998	5	299.00	3.46%	103.46
1998	6	292.00	1.04%	101.04
1998	7	293.00	1.38%	101.38
1998	8	284.00	-1.73%	98.27
1998	9	289.00	0.00%	100.00
1998	10	296.00	2.42%	102.42
1998	11	294.00	1.73%	101.73
1998	12	292.00	1.04%	101.04
1999	1	287.00	-0.69%	99.31
1999	2	287.00	-0.69%	99.31
1999	3	286.00	-1.04%	98.96
1999	4	283.00	-2.08%	97.92
1999	5	276.00	-4.50%	95.50
1999	6	261.00	-9.69%	90.31
1999	7	256.00	-11.42%	88.58
1999	8	257.00	-11.07%	88.93
1999	9	265.00	-8.30%	91.70
1999	10	311.00	7.61%	107.61
1999	11	293.00	1.38%	101.38
1999	12	283.00	-2.08%	97.92
2000	1	284.00	-1.73%	98.27
2000	2	300.00	3.81%	103.81
2000	3	286.00	-1.04%	98.96
2000	4	280.00	-3.11%	96.89
2000	5	275.00	-4.84%	95.16
2000	6	286.00	-1.04%	98.96
2000	7	282.00	-2.42%	97.58
2000	8	273.90	-5.22%	94.78
2000	9	277.00	-4.15%	95.85
2000	10	273.10	-5.50%	94.50
2000	11	263.90	-8.69%	91.31
2000	12	268.70	-7.02%	92.98
2001	1	268.40	-7.13%	92.87
2001	2	268.50	-7.09%	92.91
2001	3	265.20	-8.24%	91.76
2001	4	255.60	-11.56%	88.44
2001	5	264.40	-8.51%	91.49
2001	6	266.40	-7.82%	92.18
2001	7	269.40	-6.78%	93.22
2001	8	267.40	-7.47%	92.53
2001	9	271.60	-6.02%	93.98
2001	10	292.20	1.11%	101.11
2001	11	279.70	-3.22%	96.78
2001	12	276.90	-4.19%	95.81
2002	1	278.90	-3.49%	96.51
2002	2	286.00	-1.04%	98.96
2002	3	298.00	3.11%	103.11
2002	4	303.20	4.91%	104.91
2002	5	309.10	6.96%	106.96
2002	6	326.70	13.04%	113.04
2002	7	314.00	8.65%	108.65
2002	8	304.00	5.19%	105.19
2002	9	313.40	8.44%	108.44
2002	10	320.90	11.04%	111.04
2002	11	318.80	10.31%	110.31
2002	12	317.60	9.90%	109.90
2003	1	346.10	19.76%	119.76
2003	2	370.80	28.30%	128.30
2003	3	349.20	20.83%	120.83
2003	4	334.30	15.67%	115.67
2003	5	342.10	18.37%	118.37
2003	6	366.00	26.64%	126.64
2003	7	351.40	21.59%	121.59
2003	8	346.10	19.76%	119.76
2003	9	373.20	29.13%	129.13
2003	10	384.30	32.98%	132.98
2003	11	377.00	30.45%	130.45
2003	12	402.70	39.34%	139.34
2004	1	424.40	46.85%	146.85
2004	2	398.70	37.96%	137.96
2004	3	399.30	38.17%	138.17
2004	4	427.80	48.03%	148.03
2004	5	387.00	33.91%	133.91
2004	6	394.60	36.54%	136.54
2004	7	396.00	37.02%	137.02
2004	8	391.70	35.54%	135.54
2004	9	408.80	41.45%	141.45
2004	10	419.50	45.16%	145.16
2004	11	427.30	47.85%	147.85
2004	12	454.00	57.09%	157.09
2005	1	428.70	48.34%	148.34
2005	2	420.80	45.61%	145.61
2005	3	432.90	49.79%	149.79
2005	4	425.90	47.37%	147.37
2005	5	429.50	48.62%	148.62
2005	6	415.30	43.70%	143.70
2005	7	427.80	48.03%	148.03
2005	8	431.90	49.45%	149.45
2005	9	442.30	53.04%	153.04
2005	10	466.10	61.28%	161.28
2005	11	458.80	58.75%	158.75
2005	12	502.50	73.88%	173.88
2006	1	530.70	83.63%	183.63
2006	2	569.40	97.02%	197.02
2006	3	563.50	94.98%	194.98
2006	4	589.40	103.94%	203.94
2006	5	657.50	127.51%	227.51
2006	6	627.60	117.16%	217.16
2006	7	627.30	117.06%	217.06
2006	8	646.30	123.63%	223.63
2006	9	624.40	116.06%	216.06
2006	10	597.70	106.82%	206.82
2006	11	616.60	113.36%	213.36
2006	12	644.70	123.08%	223.08
2007	1	635.20	119.79%	219.79
2007	2	657.40	127.47%	227.47
2007	3	662.30	129.17%	229.17
2007	4	665.70	130.35%	230.35
2007	5	674.40	133.36%	233.36
2007	6	671.20	132.25%	232.25
2007	7	656.50	127.16%	227.16
2007	8	663.60	129.62%	229.62
2007	9	682.50	136.16%	236.16
2007	10	747.20	158.55%	258.55
2007	11	790.70	173.60%	273.60
2007	12	788.30	172.77%	272.77
2008	1	857.00	196.54%	296.54
2008	2	908.70	214.43%	314.43
2008	3	981.50	239.62%	339.62
2008	4	882.90	205.50%	305.50
2008	5	848.90	193.74%	293.74
2008	6	892.90	208.96%	308.96
2008	7	942.50	226.12%	326.12
2008	8	909.00	214.53%	314.53
2008	9	805.00	178.55%	278.55
2008	10	880.70	204.74%	304.74
2008	11	725.40	151.00%	251.00
2008	12	774.60	168.03%	268.03
2009	1	878.80	204.08%	304.08
2009	2	906.70	213.74%	313.74
2009	3	939.00	224.91%	324.91
2009	4	926.10	220.45%	320.45
2009	5	887.60	207.13%	307.13
2009	6	978.60	238.62%	338.62
2009	7	941.00	225.61%	325.61
2009	8	956.60	231.00%	331.00
2009	9	954.70	230.35%	330.35
2009	10	999.50	245.85%	345.85
2009	11	1,053.40	264.50%	364.50
2009	12	1,199.10	314.91%	414.91
2010	1	1,117.70	286.75%	386.75
2010	2	1,104.30	282.11%	382.11
2010	3	1,117.80	286.78%	386.78
2010	4	1,125.10	289.31%	389.31
2010	5	1,182.70	309.24%	409.24
2010	6	1,224.80	323.81%	423.81
2010	7	1,206.30	317.40%	417.40
2010	8	1,183.40	309.48%	409.48
2010	9	1,246.30	331.25%	431.25
2010	10	1,316.10	355.40%	455.40
2010	11	1,350.20	367.20%	467.20
2010	12	1,387.30	380.03%	480.03
2011	1	1,422.60	392.25%	492.25
2011	2	1,339.60	363.53%	463.53
2011	3	1,430.70	395.05%	495.05
2011	4	1,428.10	394.15%	494.15
2011	5	1,556.70	438.65%	538.65
2011	6	1,542.40	433.70%	533.70
2011	7	1,482.30	412.91%	512.91
2011	8	1,619.00	460.21%	560.21
2011	9	1,826.00	531.83%	631.83
2011	10	1,656.00	473.01%	573.01
2011	11	1,711.00	492.04%	592.04
2011	12	1,735.30	500.45%	600.45
2012	1	1,599.70	453.53%	553.53
2012	2	1,747.10	504.53%	604.53
2012	3	1,721.10	495.54%	595.54
2012	4	1,677.50	480.45%	580.45
2012	5	1,661.70	474.98%	574.98
2012	6	1,620.50	460.73%	560.73
2012	7	1,597.20	452.66%	552.66
2012	8	1,603.70	454.91%	554.91
2012	9	1,692.90	485.78%	585.78
2012	10	1,780.50	516.09%	616.09
2012	11	1,714.10	493.11%	593.11
2012	12	1,719.60	495.02%	595.02
2013	1	1,687.90	484.05%	584.05
2013	2	1,669.40	477.65%	577.65
2013	3	1,571.90	443.91%	543.91
2013	4	1,600.00	453.63%	553.63
2013	5	1,446.30	400.45%	500.45
2013	6	1,411.70	388.48%	488.48
2013	7	1,255.90	334.57%	434.57
2013	8	1,311.00	353.63%	453.63
2013	9	1,412.00	388.58%	488.58
2013	10	1,286.00	344.98%	444.98
2013	11	1,313.10	354.36%	454.36
2013	12	1,222.30	322.94%	422.94
2014	1	1,225.00	323.88%	423.88
2014	2	1,260.40	336.12%	436.12
2014	3	1,350.10	367.16%	467.16
2014	4	1,279.60	342.77%	442.77
2014	5	1,283.10	343.98%	443.98
2014	6	1,243.70	330.35%	430.35
2014	7	1,326.40	358.96%	458.96
2014	8	1,293.60	347.61%	447.61
2014	9	1,263.70	337.27%	437.27
2014	10	1,214.60	320.28%	420.28
2014	11	1,169.40	304.64%	404.64
2014	12	1,218.00	321.45%	421.45
2015	1	1,186.00	310.38%	410.38
2015	2	1,276.20	341.59%	441.59
2015	3	1,207.70	317.89%	417.89
2015	4	1,208.10	318.03%	418.03
2015	5	1,174.50	306.40%	406.40
2015	6	1,188.30	311.18%	411.18
2015	7	1,169.00	304.50%	404.50
2015	8	1,089.40	276.96%	376.96
2015	9	1,138.70	294.01%	394.01
2015	10	1,114.20	285.54%	385.54
2015	11	1,135.80	293.01%	393.01
2015	12	1,063.80	268.10%	368.10
2016	1	1,075.10	272.01%	372.01
2016	2	1,127.90	290.28%	390.28
2016	3	1,230.30	325.71%	425.71
2016	4	1,222.20	322.91%	422.91
2016	5	1,294.70	347.99%	447.99
2016	6	1,211.90	319.34%	419.34
2016	7	1,336.70	362.53%	462.53
2016	8	1,351.40	367.61%	467.61
2016	9	1,312.20	354.05%	454.05
2016	10	1,309.00	352.94%	452.94
2016	11	1,286.40	345.12%	445.12
2016	12	1,166.90	303.77%	403.77
2017	1	1,160.40	301.52%	401.52
2017	2	1,205.60	317.16%	417.16
2017	3	1,248.90	332.15%	432.15
2017	4	1,250.80	332.80%	432.80
2017	5	1,253.30	333.67%	433.67
2017	6	1,267.00	338.41%	438.41
2017	7	1,217.90	321.42%	421.42
2017	8	1,272.60	340.35%	440.35
2017	9	1,324.50	358.30%	458.30
2017	10	1,272.70	340.38%	440.38
2017	11	1,274.10	340.87%	440.87
2017	12	1,278.80	342.49%	442.49
2018	1	1,313.70	354.57%	454.57
2018	2	1,344.30	365.16%	465.16
2018	3	1,302.90	350.83%	450.83
2018	4	1,342.10	364.39%	464.39
2018	5	1,303.80	351.14%	451.14
2018	6	1,294.80	348.03%	448.03
2018	7	1,239.80	329.00%	429.00
2018	8	1,217.90	321.42%	421.42
2018	9	1,192.70	312.70%	412.70
2018	10	1,187.10	310.76%	410.76
2018	11	1,236.00	327.68%	427.68
2018	12	1,233.90	326.96%	426.96
2019	1	1,281.00	343.25%	443.25
2019	2	1,316.90	355.67%	455.67
2019	3	1,296.40	348.58%	448.58
2019	4	1,288.40	345.81%	445.81
2019	5	1,281.40	343.39%	443.39
2019	6	1,322.70	357.68%	457.68
2019	7	1,385.60	379.45%	479.45
2019	8	1,420.90	391.66%	491.66
2019	9	1,545.90	434.91%	534.91
2019	10	1,482.00	412.80%	512.80
2019	11	1,508.00	421.80%	521.80
2019	12	1,462.30	405.99%	505.99
2020	1	1,524.50	427.51%	527.51
2020	2	1,577.20	445.74%	545.74
2020	3	1,592.30	450.97%	550.97
2020	4	1,578.20	446.09%	546.09
2020	5	1,694.50	486.33%	586.33
2020	6	1,737.80	501.31%	601.31
2020	7	1,773.20	513.56%	613.56
2020	8	1,966.00	580.28%	680.28
2020	9	1,968.20	581.04%	681.04
2020	10	1,908.40	560.35%	660.35
2020	11	1,890.40	554.12%	654.12
2020	12	1,814.10	527.72%	627.72
2021	1	1,944.70	572.91%	672.91
2021	2	1,860.80	543.88%	643.88
2021	3	1,722.50	496.02%	596.02
2021	4	1,726.50	497.40%	597.40
2021	5	1,791.40	519.86%	619.86
2021	6	1,902.90	558.44%	658.44
2021	7	1,775.90	514.50%	614.50
2021	8	1,818.10	529.10%	629.10
2021	9	1,813.10	527.37%	627.37
2021	10	1,757.00	507.96%	607.96
2021	11	1,795.10	521.14%	621.14
2021	12	1,781.60	516.47%	616.47
2022	1	1,799.40	522.63%	622.63
2022	2	1,800.30	522.94%	622.94
2022	3	1,942.40	572.11%	672.11
2022	4	1,919.10	564.05%	664.05
2022	5	1,861.80	544.22%	644.22
2022	6	1,843.30	537.82%	637.82
2022	7	1,798.90	522.46%	622.46
2022	8	1,769.00	512.11%	612.11
2022	9	1,696.60	487.06%	587.06
2022	10	1,692.90	485.78%	585.78
2022	11	1,645.00	469.20%	569.20
2022	12	1,801.10	523.22%	623.22
2023	1	1,839.70	536.57%	636.57
2023	2	1,927.80	567.06%	667.06
2023	3	1,837.70	535.88%	635.88
2023	4	1,983.90	586.47%	686.47
2023	5	1,983.40	586.30%	686.30
2023	6	1,978.00	584.43%	684.43
2023	7	1,921.70	564.95%	664.95
2023	8	1,940.70	571.52%	671.52
2023	9	1,939.80	571.21%	671.21
2023	10	1,830.00	533.22%	633.22
2023	11	1,978.80	584.71%	684.71
2023	12	2,071.00	616.61%	716.61
2024	1	2,064.40	614.33%	714.33
2024	2	2,053.00	610.38%	710.38
2024	3	2,086.90	622.11%	722.11
2024	4	2,236.50	673.88%	773.88
2024	5	2,299.90	695.81%	795.81
2024	6	2,346.60	711.97%	811.97
2024	7	2,327.60	705.40%	805.40
2024	8	2,435.00	742.56%	842.56
2024	9	2,489.90	761.56%	861.56
2024	10	2,667.30	822.94%	922.94
2024	11	2,738.60	847.61%	947.61
2024	12	2,634.90	811.73%	911.73
2025	1	2,658.90	820.03%	920.03
2025	2	2,833.90	880.59%	980.59
2025	3	2,890.20	900.07%	1,000.07
2025	4	3,118.90	979.20%	1,079.20
2025	5	3,210.00	1010.73%	1,110.73
2025	6	3,370.60	1066.30%	1,166.30
2025	7	3,336.70	1054.57%	1,154.57
2025	8	3,347.70	1058.37%	1,158.37
2025	9	3,549.40	1128.17%	1,228.17
2025	10	3,867.50	1238.24%	1,338.24
2025	11	4,000.30	1284.19%	1,384.19
2025	12	4,239.30	1366.89%	1,466.89
2026	1	4,314.40	1392.87%	1,492.87
2026	2	4,622.50	1499.48%	1,599.48
2026	3	5,294.40	1731.97%	1,831.97
2026	4	4,783.20	1555.09%	1,655.09
2026	5	4,629.90	1502.04%	1,602.04
2026	6	4,475.20	1448.51%	1,548.51
2026	7	4,068.30	1307.72%	1,407.72
2026	8	4,033.70	1295.74%	1,395.74

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Gold vs S&P 500

Wondering how gold compares to the stock market? Use our S&P 500 calculator to compare returns over the same period.

Data Sources

Gold prices since August 2000 are CME Group gold futures (GC) via Yahoo Finance. Earlier prices are World Bank monthly averages from 1960, and the official U.S. price of gold before that. Inflation data is from the U.S. Bureau of Labor Statistics' monthly CPI logs.

in2013dollars.com is a reference website maintained by the Official Data Foundation.

About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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Other resources:

Gold from 1998 to 2026
Start Price January 1998	$289.00
End Price August 2026	$4,033.70
Nominal return	+1,295.74% +9.66% / yr
Inflation-adjusted return	+573.33% +6.90% / yr
Final amount, nominal ($100 base)	$1,395.74
Final amount, inflation-adjusted ($100 base)	$673.33