Gold
GC=FPrecious metal traditional safe-haven asset store of value.
As of Nov 4, 2026, Gold (GC=F) closed at $4,071.90 /oz, representing a -27.21% drawdown from its all-time high of $5,593.90 /oz recorded on Jan 29, 2026 (279 days ago). Returning to all-time high requires a +37.4% gain.
Set Drawdown Alert
Get notified when Gold dips below your chosen threshold.
Historical Maximum Drawdowns & Annual Drops
Deepest peak-to-trough drop recorded within each calendar year.
Over the last 10 completed years, Gold experienced an average intra-year drawdown of -12.1% lasting an average of 96 days peak-to-trough, with its deepest drawdown reaching -20.1% in 2022.
| Year | Max Intra-Year Drawdown | Peak High | Bottom Trough | Peak-to-Trough | Yearly Return |
|---|---|---|---|---|---|
| 2025 | -8.91%Pullback | Oct 20, 2025 $4,381.60 | Nov 5, 2025 $3,991.10 | 16 days | +66.45% |
| 2024 | -7.67%Pullback | Oct 31, 2024 $2,790.17 | Nov 15, 2024 $2,576.05 | 15 days | +26.43% |
| 2023 | -11.21%Pullback | Apr 13, 2023 $2,048.50 | Oct 4, 2023 $1,818.95 | 174 days | +14.59% |
| 2022 | -20.12%Correction | Mar 8, 2022 $2,039.10 | Nov 3, 2022 $1,628.80 | 240 days | +0.44% |
| 2021 | -13.40%Pullback | Jan 3, 2021 $1,944.52 | Mar 30, 2021 $1,684.00 | 86 days | -4.33% |
| 2020 | -14.73%Pullback | Aug 6, 2020 $2,067.20 | Nov 30, 2020 $1,762.60 | 116 days | +24.61% |
| 2019 | -6.63%Pullback | Aug 25, 2019 $1,555.18 | Nov 12, 2019 $1,452.10 | 79 days | +18.44% |
| 2018 | -13.09%Pullback | Mar 25, 2018 $1,355.95 | Aug 17, 2018 $1,178.40 | 145 days | -0.93% |
| 2017 | -9.06%Pullback | Jan 1, 2017 $1,260.00 | Jan 2, 2017 $1,145.90 | 1 days | +12.66% |
| 2016 | -16.13%Correction | Sep 25, 2016 $1,342.24 | Dec 20, 2016 $1,125.70 | 86 days | -13.87% |
Compare with Other Drawdowns
Gold Historical Maximum Drawdown & Bear Market History
Historical Maximum Drawdowns & Major Crashes
While gold carries lower annualized volatility than equities or industrial metals, it is susceptible to protracted multi-year drawdowns. After reaching an inflation-adjusted peak of $850/oz in January 1980, gold entered a 19-year secular bear market that culminated in a -70.0% decline to $253/oz in August 1999. In the modern era, following its September 2011 peak of $1,921.17, gold declined -45.7% over 1,556 days to a December 2015 cyclical trough of $1,046.
Typical Pullback Frequency
Gold drawdowns tend to be low-velocity and macro-driven, often extending over multi-year cycles when real interest rates rise and sovereign bond yields offer attractive real returns. Routine pullbacks of -5% to -10% occur during intermediate dollar strength, while cyclical drawdowns exceeding -20% historically require structural shifts in central bank monetary policy.
Historical Recovery Timelines
Gold recoveries are among the slowest across major asset classes because physical bullion does not generate dividend cash flows. Following the 1980 peak, nominal gold required 28 years (until 2008) to reach new highs, while the September 2011 peak required 8.9 years (3,251 days) to recover in August 2020. Conversely, intermediate corrections of -10% to -15% during ongoing monetary expansions typically resolve within 6 to 14 months.