Gold Price in 1972
In 1972, the price of gold averaged $58 per troy ounce, up 41.5% from the year before. This page covers the 1972 average, high, low, and year-end close, and what that gold would be worth in today's dollars.
1972 Average
$58
LBMA annual average, USD/oz
Change vs 1971
+41.5%
from $41 in 1971
1972 High
$70
from daily trading data
1972 Low
$44
from daily trading data
Year-End Close
$65
last trading day of 1972
Gold Price Chart, 1970 to 1990
Gold Price by Month in 1972
Each month's average of daily closing prices, with its high and low, per troy ounce. These come from MetalCharts daily spot data, so they can differ slightly from the annual average above, which is based on LBMA annual average data.
| Month | Average | High | Low |
|---|---|---|---|
| January 1972 | $46 | $48 | $44 |
| February 1972 | $49 | $50 | $47 |
| March 1972 | $49 | $49 | $48 |
| April 1972 | $49 | $50 | $49 |
| May 1972 | $55 | $60 | $51 |
| June 1972 | $62 | $65 | $60 |
| July 1972 | $66 | $69 | $65 |
| August 1972 | $67 | $70 | $65 |
| September 1972 | $66 | $68 | $62 |
| October 1972 | $65 | $66 | $64 |
| November 1972 | $63 | $64 | $61 |
| December 1972 | $64 | $66 | $63 |
What happened to the gold price in 1972
Gold averaged $58 per troy ounce in 1972, climbing 41.5% from the $41 average of 1971. Daily trading data shows gold moved between a low of $44 and a high of $70 during the year, ending 1972 at $65.
The 1970s were gold's first decade of free trading. After President Nixon ended the dollar's convertibility to gold in August 1971, runaway inflation, two oil shocks, and Cold War tensions carried the metal from $35 toward its January 1980 peak of $850 per ounce.
Adjusted for inflation, gold's 1972 average of $58 equals about $447 in today's dollars. The conversion uses US Bureau of Labor Statistics CPI-U annual averages, so treat it as a close approximation rather than an exact figure.
Frequently Asked Questions
What was the price of gold in 1972?
What is a 1972 gold price worth in today's dollars?
Annual averages are LBMA prices per troy ounce in US dollars. Where shown, the yearly high, low, and close come from MetalCharts daily historical data and may differ slightly from figures published elsewhere. Inflation adjustments use BLS CPI-U annual averages.