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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, the events that moved the market, 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

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?
Gold averaged $437 per troy ounce in 1988, based on LBMA annual average data. Daily prices ranged from a low of $396 to a high of $489, and the year closed at $412. That average was down 2.2% from $447 in 1987.
What is a 1988 gold price worth in today's dollars?
Adjusted with the US Consumer Price Index, gold's 1988 average of $437 works out to roughly $1,191 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.