Gold Price in 1988
In 1988, the price of gold averaged $437 per troy ounce, down 2.2% from the year before. This page covers the 1988 average, high, low, and year-end close, and what that gold would be worth in today's dollars.
1988 Average
$437
LBMA annual average, USD/oz
Change vs 1987
-2.2%
from $447 in 1987
1988 High
$489
from daily trading data
1988 Low
$396
from daily trading data
Year-End Close
$412
last trading day of 1988
Gold Price Chart, 1978 to 1998
Gold Price by Month in 1988
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 1988 | $477 | $489 | $450 |
| February 1988 | $444 | $462 | $425 |
| March 1988 | $446 | $463 | $426 |
| April 1988 | $455 | $464 | $448 |
| May 1988 | $453 | $463 | $444 |
| June 1988 | $455 | $474 | $432 |
| July 1988 | $439 | $449 | $424 |
| August 1988 | $441 | $449 | $433 |
| September 1988 | $418 | $440 | $396 |
| October 1988 | $411 | $419 | $398 |
| November 1988 | $422 | $430 | $413 |
| December 1988 | $423 | $438 | $410 |
What happened to the gold price in 1988
Gold averaged $437 per troy ounce in 1988, down 2.2% from $447 the year before. Daily trading data shows gold moved between a low of $396 and a high of $489 during the year, ending 1988 at $412.
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 1988 average of $437 equals about $1,191 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 1988?
What is a 1988 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.