Gold Price History
Explore over 50 years of gold price data from the end of the gold standard to today. Decade-by-decade analysis with interactive charts and inflation-adjusted prices.
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Gold Price Through the Decades
The modern history of freely traded gold begins in August 1971, when President Nixon ended the U.S. dollar's convertibility to gold at $35 per ounce. Since then, gold has experienced dramatic cycles -- from the inflation-driven mania of the 1970s to prolonged bear markets and the modern era of record-setting central bank buying.
- 1971 - End of Gold Standard – Nixon closes the gold window; gold begins trading freely from $35/oz.
- 1980 - Inflation Peak – Stagflation and geopolitical turmoil push gold to $850/oz, a record that stood for nearly 28 years.
- 1999 - Generational Low – Gold bottoms near $255/oz as investors pile into tech stocks during the dot-com bubble.
- 2008 - Financial Crisis – Lehman Brothers collapses; gold surges past $1,000/oz for the first time as a safe haven.
- 2011 - Post-Crisis Peak – Sovereign debt fears in Europe and QE drive gold to $1,921/oz.
- 2020 - COVID Record – Pandemic uncertainty and massive stimulus push gold above $2,075/oz.
- 2024-2026 - New Era – Central bank buying and de-dollarization drive gold to new all-time highs.
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Frequently Asked Questions
What was the highest gold price ever?
Gold has repeatedly set new all-time highs in the 2024-2026 period, surpassing the previous record of $2,075 per ounce set during the COVID-19 pandemic in August 2020. Before that, the record was $1,921 set in September 2011. Visit our Gold All-Time High page for the latest record price.
What was the gold price in 1970?
In 1970, the gold price was fixed at $35 per troy ounce under the Bretton Woods system. Gold did not trade freely until August 1971, when President Nixon ended dollar-to-gold convertibility. By the end of 1971, gold had already risen to about $43 per ounce.
How has gold performed versus inflation?
Gold has generally outpaced inflation over the long term. The $35 per ounce price in 1971 would be roughly $270 in 2026 dollars when adjusted for CPI inflation, yet gold trades far above that level today. However, gold's inflation-adjusted 1980 peak of approximately $3,200 in today's dollars shows that timing matters significantly.
What caused gold's biggest price moves?
Gold's largest rallies have been driven by high inflation (1970s), financial crises (2008-2011), pandemic uncertainty (2020), and massive central bank buying (2024-2026). Its biggest declines came from rising real interest rates (1980-2000) and a strong U.S. dollar during periods of economic confidence.