Gold Price in 1997

In 1997, the price of gold averaged $331 per troy ounce, down 14.7% from the year before. This page covers the 1997 average, high, low, and year-end close, the events that moved the market, and what that gold would be worth in today's dollars.

1997 Average

$331

LBMA annual average, USD/oz

Change vs 1996

-14.7%

from $388 in 1996

1997 High

$369

from daily trading data

1997 Low

$284

from daily trading data

Year-End Close

$296

last trading day of 1997

What happened to the gold price in 1997

Gold averaged $331 per troy ounce in 1997, down 14.7% from $388 the year before. Daily trading data shows gold moved between a low of $284 and a high of $369 during the year, ending 1997 at $296. The notable development of 1997: Asian financial crisis; CB selling.

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 1997 average of $331 equals about $665 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 1997?

Gold averaged $331 per troy ounce in 1997, based on LBMA annual average data. Daily prices ranged from a low of $284 to a high of $369, and the year closed at $296. That average was down 14.7% from $388 in 1996.

What is a 1997 gold price worth in today's dollars?

Adjusted with the US Consumer Price Index, gold's 1997 average of $331 works out to roughly $665 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 1997?

The defining story of 1997: Asian financial crisis; CB selling. Against that backdrop, the annual average fell 14.7%, from $388 in 1996 to $331.

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.