Gold Price in 1985

In 1985, the price of gold averaged $317 per troy ounce, down 12.2% from the year before. This page covers the 1985 average, high, low, and year-end close, the events that moved the market, and what that gold would be worth in today's dollars.

1985 Average

$317

LBMA annual average, USD/oz

Change vs 1984

-12.2%

from $361 in 1984

1985 High

$350

from daily trading data

1985 Low

$283

from daily trading data

Year-End Close

$331

last trading day of 1985

What happened to the gold price in 1985

Gold averaged $317 per troy ounce in 1985, down 12.2% from $361 the year before. Daily trading data shows gold moved between a low of $283 and a high of $350 during the year, ending 1985 at $331. The notable development of 1985: Plaza Accord weakens USD.

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 1985 average of $317 equals about $950 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 1985?

Gold averaged $317 per troy ounce in 1985, based on LBMA annual average data. Daily prices ranged from a low of $283 to a high of $350, and the year closed at $331. That average was down 12.2% from $361 in 1984.

What is a 1985 gold price worth in today's dollars?

Adjusted with the US Consumer Price Index, gold's 1985 average of $317 works out to roughly $950 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 1985?

The defining story of 1985: Plaza Accord weakens USD. Against that backdrop, the annual average fell 12.2%, from $361 in 1984 to $317.

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.