Gold Price in 1994

In 1994, the price of gold averaged $384 per troy ounce, up 6.7% from the year before. This page covers the 1994 average, high, low, and year-end close, and what that gold would be worth in today's dollars.

1994 Average

$384

LBMA annual average, USD/oz

Change vs 1993

+6.7%

from $360 in 1993

1994 High

$402

from daily trading data

1994 Low

$370

from daily trading data

Year-End Close

$384

last trading day of 1994

Gold Price Chart, 1984 to 2004

Annual average gold price per troy ounce, 1984 to 2004, with 1994 marked.

Gold Price by Month in 1994

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 1994	$387	$398	$375
February 1994	$383	$392	$376
March 1994	$385	$397	$374
April 1994	$380	$396	$370
May 1994	$383	$391	$373
June 1994	$388	$398	$380
July 1994	$386	$390	$382
August 1994	$386	$394	$380
September 1994	$396	$402	$390
October 1994	$392	$400	$384
November 1994	$385	$388	$382
December 1994	$382	$387	$378

What happened to the gold price in 1994

Gold averaged $384 per troy ounce in 1994, up 6.7% from $360 the year before. Daily trading data shows gold moved between a low of $370 and a high of $402 during the year, ending 1994 at $384.

The 1990s extended gold's long bear market. Low inflation, a roaring stock market, and steady central bank selling kept the metal drifting lower for most of the decade, and by 1999 gold had bottomed near $255 per ounce.

Adjusted for inflation, gold's 1994 average of $384 equals about $835 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 1994?

Gold averaged $384 per troy ounce in 1994, based on LBMA annual average data. Daily prices ranged from a low of $370 to a high of $402, and the year closed at $384. That average was up 6.7% from $360 in 1993.

What is a 1994 gold price worth in today's dollars?

Adjusted with the US Consumer Price Index, gold's 1994 average of $384 works out to roughly $835 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.