THE SHORT ANSWER
Endpoint return is useful only when the dates and path are visible
Choose two months to calculate the change between their World Bank monthly average gold prices. GoldObserve also shows the elapsed months, geometric annualized return when the interval is at least one year, the highest and lowest monthly averages, and maximum drawdown. The result is a nominal benchmark return—not a personal portfolio statement or prediction.
2016-07 to 2026-07.
Endpoint monthly averages.
Geometric rate, not arithmetic average.
Worst interval peak-to-later-month decline.
DATE RETURN CALCULATOR
Compare exact monthly endpoints and inspect the full interval
The chart contains every stored monthly average between the chosen endpoints. It makes a positive final return impossible to confuse with a smooth path.
2016-12 inside interval.
2026-02 inside interval.
From a prior interval peak.
Inclusive monthly averages.
Source: World Bank Commodity Price Data (The Pink Sheet), nominal USD monthly average per troy ounce, CC BY 4.0. Normal page loads use GoldObserve's local archive and do not fetch the workbook.
FORMULAS
Total return, annualized return and drawdown answer different questions
Whole endpoint change across the selected months.
Geometric equivalent when the interval is at least one year.
Worst monthly-average path loss inside the interval.
INTERPRETATION
Five mistakes can turn a correct calculation into a false conclusion
- Do not treat monthly averages as exact purchase or sale fills.
- Do not annualize an interval shorter than one year as if the pace were durable.
- Do not ignore the path: an ending gain can conceal a severe interim drawdown.
- Do not compare nominal gold with a real return or local-currency result without matching units.
- Do not add premiums or costs to only one endpoint; use an actual-position calculator for investor returns.
- Do not generalize one favorable start date into an expected future return.
Source and calculation detailsWorld Bank monthly history · CC BY 4.0
SOURCE, LICENSE & DATA BOUNDARY
Monthly results use one consistent World Bank series
GoldObserve uses the World Bank Commodity Price Data (Pink Sheet), licensed CC BY 4.0. The archive contains 799 monthly nominal USD gold averages from 1960-01 through 2026-07. The workbook was updated 2026-08-04, retrieved 2026-08-07, and stored with SHA-256 7902a77505ebdc5d202ce65f666c2ee1b04b626f042d7738ed3e6f7d112c8433.
A monthly average is not a daily close. GoldObserve does not splice in a current quote, interpolate missing months or fabricate daily history.
FREQUENTLY ASKED QUESTIONS
Questions about historical gold prices by date
How is gold return between two dates calculated?
Total return equals ending monthly average divided by starting monthly average minus one. It is a benchmark price return before premiums, spreads, storage, tax, fund expenses or cash flows.
When does the calculator show annualized return?
Only when the selected interval is at least 12 calendar months. The geometric formula is (end/start)^(12/months) - 1.
Why show maximum drawdown as well as ending return?
Two intervals can have the same endpoint return but very different losses along the way. Maximum drawdown measures the deepest decline from a prior monthly-average peak inside the chosen interval.
Is this my investment return?
Usually not. A personal return needs actual transaction prices, amounts, dates, premiums, exit terms, expenses, taxes and any contributions or withdrawals.
Can the result predict future gold returns?
No. It describes one completed historical interval and provides no probability or price forecast.