Gold Price History & Chart
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.
Price Chart
Data Methodology
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Gold Price by Year (1971–2025)
LBMA annual average price per troy ounce in USD
| Year | Avg Price (USD/oz) | YoY Change | |
|---|---|---|---|
| 1970s — End of Gold Standard & Inflation Era | |||
| 1971 Nixon ends dollar-gold convertibility | $41 | — | |
| 1972 | $58 | +41.5% | |
| 1973 Oil crisis begins; Bretton Woods collapses | $97 | +67.2% | |
| 1974 U.S. legalizes private gold ownership | $159 | +63.9% | |
| 1975 | $161 | +1.3% | |
| 1976 IMF gold auctions depress price | $125 | -22.4% | |
| 1977 | $148 | +18.4% | |
| 1978 Second oil crisis; Iran revolution | $193 | +30.4% | |
| 1979 Soviet invasion of Afghanistan | $307 | +59.1% | |
| 1980s — Volcker Era & Disinflation | |||
| 1980 Gold peaks at $850; Volcker hikes rates | $615 | +100.3% | |
| 1981 | $460 | -25.2% | |
| 1982 Latin American debt crisis | $376 | -18.3% | |
| 1983 | $424 | +12.8% | |
| 1984 | $361 | -14.9% | |
| 1985 Plaza Accord weakens USD | $317 | -12.2% | |
| 1986 | $368 | +16.1% | |
| 1987 Black Monday stock crash | $447 | +21.5% | |
| 1988 | $437 | -2.2% | |
| 1989 Fall of the Berlin Wall | $381 | -12.8% | |
| 1990s — Bear Market & Dot-Com Boom | |||
| 1990 Gulf War begins | $383 | +0.5% | |
| 1991 | $362 | -5.5% | |
| 1992 | $344 | -5.0% | |
| 1993 | $360 | +4.7% | |
| 1994 | $384 | +6.7% | |
| 1995 | $384 | +0.0% | |
| 1996 | $388 | +1.0% | |
| 1997 Asian financial crisis; CB selling | $331 | -14.7% | |
| 1998 LTCM collapse; Russian default | $294 | -11.2% | |
| 1999 Gold bottoms; dot-com peak | $279 | -5.1% | |
| 2000s — Bull Market & Financial Crisis | |||
| 2000 Dot-com bubble bursts | $279 | +0.0% | |
| 2001 9/11 attacks; recession begins | $271 | -2.9% | |
| 2002 War on Terror escalates | $310 | +14.4% | |
| 2003 Iraq War begins | $363 | +17.1% | |
| 2004 | $409 | +12.7% | |
| 2005 | $444 | +8.6% | |
| 2006 Gold ETFs drive demand | $604 | +36.0% | |
| 2007 Subprime crisis emerges | $695 | +15.1% | |
| 2008 Lehman Brothers collapse; global financial crisis | $872 | +25.5% | |
| 2009 Fed launches QE1 | $972 | +11.5% | |
| 2010s — QE, Recovery & Trade Wars | |||
| 2010 European sovereign debt crisis | $1,225 | +26.0% | |
| 2011 Gold peaks at $1,921; S&P downgrade of U.S. | $1,572 | +28.3% | |
| 2012 | $1,669 | +6.2% | |
| 2013 Taper tantrum; gold crashes | $1,411 | -15.5% | |
| 2014 | $1,266 | -10.3% | |
| 2015 Fed begins rate hikes | $1,160 | -8.4% | |
| 2016 Brexit vote | $1,251 | +7.8% | |
| 2017 | $1,257 | +0.5% | |
| 2018 U.S.-China trade war begins | $1,269 | +1.0% | |
| 2019 Fed reverses to rate cuts | $1,393 | +9.8% | |
| 2020s — Pandemic, Inflation & New Highs | |||
| 2020 COVID-19 pandemic; gold tops $2,075 | $1,770 | +27.1% | |
| 2021 Inflation surge begins | $1,799 | +1.6% | |
| 2022 Russia-Ukraine war; aggressive Fed hikes | $1,800 | +0.1% | |
| 2023 Banking crisis; record central bank buying | $1,941 | +7.8% | |
| 2024 Gold breaks $2,500; rate cuts begin | $2,386 | +22.9% | |
| 2025 New all-time highs; de-dollarization accelerates | $2,860 | +19.9% | |
24h Change
24h Range
Bid / Ask
All-Time High
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. This event, known as the "Nixon Shock," dissolved the Bretton Woods system that had pegged the dollar to gold since 1944. For the first time in modern history, gold's price was determined by open market forces rather than government decree.
The 1970s delivered gold's first great bull market as a freely traded asset. Runaway inflation, two oil crises, the Soviet invasion of Afghanistan, and the Iranian hostage crisis drove gold from $35 to a peak of $850 per ounce in January 1980, a gain of over 2,300% in less than a decade. Adjusted for inflation, that 1980 peak is equivalent to roughly $3,200 in today's dollars.
The subsequent 20-year bear market (1980-2000) was driven by Federal Reserve Chairman Paul Volcker's aggressive interest rate hikes, which crushed inflation and made yield-bearing assets far more attractive than gold. By 1999, gold had fallen to approximately $255 per ounce as investors poured into booming equity markets during the dot-com era. Central banks in Europe actively sold gold reserves during this period, adding further downward pressure.
Gold's 21st-century resurgence began with the bursting of the tech bubble and accelerated through the 2008 financial crisis. The collapse of Lehman Brothers and unprecedented monetary stimulus drove gold past $1,000 for the first time. The rally continued to $1,921 in September 2011, fueled by European sovereign debt fears and quantitative easing.
After a correction, gold found new momentum during the COVID-19 pandemic, surpassing $2,075 in August 2020 as governments deployed trillions in fiscal and monetary stimulus. Record-setting central bank purchases, particularly by China, Russia, and emerging-market nations pursuing de-dollarization, have since driven gold to new all-time highs, underscoring its enduring role as the world's ultimate monetary reserve asset.
Data provided by MetalCharts, a free precious metals tracking platform offering real-time prices, interactive charts, historical data, and portfolio tools for gold, silver, platinum, palladium, and copper. Prices sourced from major global exchanges including COMEX, LBMA, and LME, updated continuously during market hours.
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