Gold named most expensive metal of the 21st century amid price surges

Gold has emerged as the most expensive metal of the 21st century, experiencing a twelvefold increase in price from 2000 to the end of 2025. This significant surge far outpaced the growth of other major metals during the same period.

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If we compare the cost of metals at the very end of the 20th century, in 2000, and in the 21st century, for example at the end of 2025, based on World Bank statistics, most major metals became more expensive, but gold rose the most, twelvefold.

In comparison, copper prices rose 5.87 times, iron ore 3.39 times, nickel 1.71 times, and aluminum 1.66 times. These figures highlight gold's exceptional performance in the metals market over the past quarter-century.

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The expert noted that their price growth in the 21st century was influenced by the overall rise in global consumer prices, for example amid higher mining and processing costs, energy prices, equipment prices, and changes in the U.S. dollar exchange rate.

Analysts attribute this price escalation to a confluence of factors. The overall rise in global consumer prices, driven by increased costs in mining and processing, higher energy prices, and more expensive equipment, has played a significant role. Additionally, changes in the U.S. dollar exchange rate have influenced metal valuations.

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Overall, price dynamics for major industrial metals in the 21st century were affected by crises in financial markets, particularly in 2008–2009 and 2019–2020, as well as changes in supply and demand, she added.

Furthermore, price dynamics for major industrial metals have been impacted by financial market crises, notably in 2008-2009 and 2019-2020. Shifts in supply and demand, alongside fluctuations in the cost of oil and other energy resources, also contribute to the volatility and upward trend observed in metal prices.

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The analyst believes that fluctuations in the cost of oil and other energy resources also affect metal prices.