Gold Price in 1983
In 1983, the price of gold averaged $424 per troy ounce, up 12.8% from the year before. This page covers the 1983 average, high, low, and year-end close, and what that gold would be worth in today's dollars.
1983 Average
$424
LBMA annual average, USD/oz
Change vs 1982
+12.8%
from $376 in 1982
1983 High
$520
from daily trading data
1983 Low
$373
from daily trading data
Year-End Close
$388
last trading day of 1983
Gold Price Chart, 1973 to 1993
Gold Price by Month in 1983
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 1983 | $484 | $519 | $450 |
| February 1983 | $495 | $520 | $424 |
| March 1983 | $423 | $442 | $407 |
| April 1983 | $438 | $451 | $423 |
| May 1983 | $439 | $453 | $418 |
| June 1983 | $417 | $428 | $401 |
| July 1983 | $425 | $439 | $410 |
| August 1983 | $429 | $441 | $419 |
| September 1983 | $419 | $429 | $401 |
| October 1983 | $398 | $409 | $378 |
| November 1983 | $384 | $414 | $373 |
| December 1983 | $391 | $410 | $376 |
What happened to the gold price in 1983
Gold averaged $424 per troy ounce in 1983, up 12.8% from $376 the year before. Daily trading data shows gold moved between a low of $373 and a high of $520 during the year, ending 1983 at $388.
The 1980s marked the start of a two-decade bear market for gold. Paul Volcker's aggressive interest rate hikes broke the back of inflation and pushed real yields sharply higher, pulling capital out of bullion and into bonds and equities.
Adjusted for inflation, gold's 1983 average of $424 equals about $1,372 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 1983?
What is a 1983 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.