Gold Price in 1976

In 1976, the price of gold averaged $125 per troy ounce, down 22.4% from the year before. This page covers the 1976 average, high, low, and year-end close, the events that moved the market, and what that gold would be worth in today's dollars.

1976 Average

$125

LBMA annual average, USD/oz

Change vs 1975

-22.4%

from $161 in 1975

1976 High

$142

from daily trading data

1976 Low

$100

from daily trading data

Year-End Close

$136

last trading day of 1976

What happened to the gold price in 1976

Gold averaged $125 per troy ounce in 1976, sliding 22.4% from the $161 average of 1975. Daily trading data shows gold moved between a low of $100 and a high of $142 during the year, ending 1976 at $136. The notable development of 1976: IMF gold auctions depress price.

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 1976 average of $125 equals about $708 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 1976?

Gold averaged $125 per troy ounce in 1976, based on LBMA annual average data. Daily prices ranged from a low of $100 to a high of $142, and the year closed at $136. That average was down 22.4% from $161 in 1975.

What is a 1976 gold price worth in today's dollars?

Adjusted with the US Consumer Price Index, gold's 1976 average of $125 works out to roughly $708 in today's dollars, using 2025 as the CPI base year. The conversion uses BLS CPI-U annual averages, so treat it as a close approximation rather than an exact figure.

What moved the gold price in 1976?

The defining story of 1976: IMF gold auctions depress price. Against that backdrop, the annual average fell 22.4%, from $161 in 1975 to $125.

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.