Gold Price Plummets: Troy Ounce Closes at US$4.74 in New York

In a notable market movement, the price of a troy ounce of gold in New York closed at US$4.74 on Wednesday, April 22, 2026. Data provided by the Banco República (BROU) indicates a dramatic -99.90% variation from the previous closing price, a significant shift in the precious metals market.

The troy ounce, an international standard for measuring precious metals like gold, silver, and platinum, has a rich history. Originating from the French city of Troyes, it became an official unit of measure in England in the 16th century and was later incorporated into the British system. Its historical significance is tied to gold's role as a safe-haven asset, with its price often reflecting global economic and political volatility.

El País, as a leading Uruguayan publication, tracks these economic indicators closely. The article delves into the historical patterns of gold pricing, referencing the gold standard in the 19th century, the Bretton Woods system where the dollar was pegged to gold at $35 per ounce until 1971, and the subsequent free-floating market. It notes the significant rise from $300 in the early 2000s to over $2,500 in 2024, driven by economic crises. While this report focuses on New York prices, understanding these global trends is crucial for investors and economists in Uruguay and across Latin America, offering insights into market behavior and investment strategies in times of uncertainty.