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Gold Price in 1984

In 1984, the price of gold averaged $361 per troy ounce, down 14.9% from the year before. This page covers the 1984 average, high, low, and year-end close, the events that moved the market, and what that gold would be worth in today's dollars.

1984 Average

$361

LBMA annual average, USD/oz

Change vs 1983

-14.9%

from $424 in 1983

1984 High

$411

from daily trading data

1984 Low

$307

from daily trading data

Year-End Close

$310

last trading day of 1984

What happened to the gold price in 1984

Gold averaged $361 per troy ounce in 1984, down 14.9% from $424 the year before. Daily trading data shows gold moved between a low of $307 and a high of $411 during the year, ending 1984 at $310.

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 1984 average of $361 equals about $1,120 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 1984?
Gold averaged $361 per troy ounce in 1984, based on LBMA annual average data. Daily prices ranged from a low of $307 to a high of $411, and the year closed at $310. That average was down 14.9% from $424 in 1983.
What is a 1984 gold price worth in today's dollars?
Adjusted with the US Consumer Price Index, gold's 1984 average of $361 works out to roughly $1,120 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.

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.