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Gold Price in 2024

In 2024, the price of gold averaged $2,386 per troy ounce, up 22.9% from the year before. This page covers the 2024 average, high, low, and year-end close, the events that moved the market, and what that gold would be worth in today's dollars.

2024 Average

$2,386

LBMA annual average, USD/oz

Change vs 2023

+22.9%

from $1,941 in 2023

2024 High

$2,790

from daily trading data

2024 Low

$1,984

from daily trading data

Year-End Close

$2,624

last trading day of 2024

What happened to the gold price in 2024

Gold averaged $2,386 per troy ounce in 2024, climbing 22.9% from the $1,941 average of 2023. Daily trading data shows gold moved between a low of $1,984 and a high of $2,790 during the year, ending 2024 at $2,624. The notable development of 2024: Gold breaks $2,500; rate cuts begin.

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 2024 average of $2,386 equals about $2,451 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 2024?
Gold averaged $2,386 per troy ounce in 2024, based on LBMA annual average data. Daily prices ranged from a low of $1,984 to a high of $2,790, and the year closed at $2,624. That average was up 22.9% from $1,941 in 2023.
What is a 2024 gold price worth in today's dollars?
Adjusted with the US Consumer Price Index, gold's 2024 average of $2,386 works out to roughly $2,451 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 2024?
The defining story of 2024: Gold breaks $2,500; rate cuts begin. Against that backdrop, the annual average climbed 22.9%, from $1,941 in 2023 to $2,386.

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.