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
Gold Price Chart, 1970 to 1990
Gold Price by Month in 1976
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 1976 | $132 | $142 | $123 |
| February 1976 | $131 | $135 | $129 |
| March 1976 | $133 | $135 | $128 |
| April 1976 | $129 | $131 | $127 |
| May 1976 | $128 | $130 | $124 |
| June 1976 | $127 | $133 | $124 |
| July 1976 | $117 | $125 | $105 |
| August 1976 | $110 | $115 | $100 |
| September 1976 | $114 | $121 | $104 |
| October 1976 | $117 | $126 | $113 |
| November 1976 | $132 | $141 | $123 |
| December 1976 | $135 | $140 | $131 |
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?
What is a 1976 gold price worth in today's dollars?
What moved the gold price in 1976?
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.