Price The Fed is now expected to raise U.S. interest rates five times this year, which would be the fastest since 2005-06.......... In 2002 gold was at $280 per ounce. The price of gold started to rise again in 2005, passing the $400 per ounce mark and reaching $550 per ounce in 2006 and $760 in 2008. The good times are coming soon.