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Gold Price in 2023

In 2023, the price of gold averaged $1,941 per troy ounce, up 7.8% from the year before. This page covers the 2023 average, high, low, and year-end close, the events that moved the market, and what that gold would be worth in today's dollars.

2023 Average

$1,941

LBMA annual average, USD/oz

Change vs 2022

+7.8%

from $1,800 in 2022

2023 High

$2,149

from daily trading data

2023 Low

$1,805

from daily trading data

Year-End Close

$2,063

last trading day of 2023

What happened to the gold price in 2023

Gold averaged $1,941 per troy ounce in 2023, up 7.8% from $1,800 the year before. Daily trading data shows gold moved between a low of $1,805 and a high of $2,149 during the year, ending 2023 at $2,063. The notable development of 2023: Banking crisis; record central bank buying.

The 2020s have been gold's strongest decade since the 1970s. Pandemic stimulus, the worst inflation in four decades, and record central bank buying produced a series of new all-time highs.

Adjusted for inflation, gold's 2023 average of $1,941 equals about $2,053 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 2023?
Gold averaged $1,941 per troy ounce in 2023, based on LBMA annual average data. Daily prices ranged from a low of $1,805 to a high of $2,149, and the year closed at $2,063. That average was up 7.8% from $1,800 in 2022.
What is a 2023 gold price worth in today's dollars?
Adjusted with the US Consumer Price Index, gold's 2023 average of $1,941 works out to roughly $2,053 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 2023?
The defining story of 2023: Banking crisis; record central bank buying. Against that backdrop, the annual average climbed 7.8%, from $1,800 in 2022 to $1,941.

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.