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, the events that moved the market, 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

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.