How much of gold's rise was the dollar? The Kitco Gold Index (KGX)
In the 10 years to 30 Oct 2026, gold rose 203.9%: -3.5 points of that came from the U.S. dollar's own moves and +207.4 from trading in gold, by the Kitco Gold Index (KGX).
- Gold, 10 years
- +203.9%
- $1,275 → $3,874
- From the dollar
- -3.5 pts
- 10 years
- From gold itself
- +207.4 pts
- 10 years
- Gold, 50 years
- +3,046.1%
- dollar +4.0 pts
In context
Over 5 to 50 years, the dollar's largest part was -16.0 points, over the 20 years from Oct 2006, when gold moved +541.0% in all; trading in gold made up the rest.
Over the last year gold moved -3.7%: -2.3 points from the dollar and -1.4 from trading in gold.
Silver over the same 10 years: +176.5%, of which -3.5 points from the dollar and +179.9 from trading in silver. The dollar's part is the same for every metal; only the metal's own part differs.
KGX measures gold with the U.S. dollar's own rise or fall taken out. When the dollar weakens, gold's dollar price rises even if nothing changed for gold elsewhere; KGX counts that part separately from the part that came from buying and selling gold.
The two parts add up to the change in the dollar price, in percentage points of the start price. A negative dollar part means a stronger dollar held gold's dollar price down over that window.
Gold vs the dollar, to $3,874
| Over the last | Gold then | Change | From the dollar | From gold itself |
|---|---|---|---|---|
| 1 year | $4,024 | -3.7% | -2.3 pts | -1.4 pts |
| 5 years | $1,784 | +117.1% | -7.6 pts | +124.8 pts |
| 10 years | $1,275 | +203.9% | -3.5 pts | +207.4 pts |
| 20 years | $604 | +541.0% | -16.0 pts | +557.0 pts |
| 30 years | $380 | +920.4% | -14.5 pts | +934.9 pts |
| 40 years | $407 | +853.1% | +6.6 pts | +846.5 pts |
| 50 years | $123 | +3,046.1% | +4.0 pts | +3,042.1 pts |
Silver vs the dollar, to $49.00
| Over the last | Silver then | Change | From the dollar | From silver itself |
|---|---|---|---|---|
| 1 year | $48.84 | +0.3% | -2.3 pts | +2.6 pts |
| 5 years | $23.89 | +105.2% | -7.6 pts | +112.8 pts |
| 10 years | $17.73 | +176.5% | -3.5 pts | +179.9 pts |
| 20 years | $12.12 | +304.3% | -16.0 pts | +320.3 pts |
| 30 years | $4.83 | +915.4% | -14.5 pts | +929.9 pts |
| 40 years | $5.60 | +775.5% | +6.6 pts | +769.0 pts |
| 50 years | $4.27 | +1,047.4% | +4.0 pts | +1,043.4 pts |
Platinum vs the dollar, to $1,429
| Over the last | Platinum then | Change | From the dollar | From platinum itself |
|---|---|---|---|---|
| 1 year | $1,604 | -10.9% | -2.3 pts | -8.6 pts |
| 5 years | $1,018 | +40.4% | -7.6 pts | +48.0 pts |
| 10 years | $977 | +46.3% | -3.5 pts | +49.7 pts |
| 20 years | $1,085 | +31.7% | -16.0 pts | +47.7 pts |
| 30 years | $380 | +275.8% | -14.5 pts | +290.3 pts |
| 40 years | $582 | +145.5% | +6.6 pts | +138.9 pts |
| 50 years | $157 | +808.5% | +4.0 pts | +804.5 pts |
Palladium vs the dollar, to $961
| Over the last | Palladium then | Change | From the dollar | From palladium itself |
|---|---|---|---|---|
| 1 year | $1,434 | -33.0% | -2.3 pts | -30.7 pts |
| 5 years | $1,986 | -51.6% | -7.6 pts | -44.0 pts |
| 10 years | $616 | +56.1% | -3.5 pts | +59.5 pts |
| 20 years | $321 | +199.8% | -16.0 pts | +215.9 pts |
Daily closes from Kitco's KGX history, each window back from the 30 Oct 2026 close; a start price can differ from the chart's monthly average for that month. What the record did, not a forecast. Source: widgets.kitco.com.
Updated Oct 2026 · record through Oct 2026