Historical Gold Prices

Understanding Historical Gold Prices is the First Step to Becoming a Gold Investment Expert

Historical gold prices are just statistics snapshots relating only to the conditions under which they were taken. Like all statistics, they can be manipulated to prove just about any theory both the bulls and bears might devise. But when viewed dispassionately, and with common sense, they are the foundation for a deep understanding of the fundamentals driving past and present gold price trends.

Year Average Price Year Average Price Year Average Price
1951 34.72 1972 58.42 1993 359.77
1952 34.60 1973 97.39 1994 384.00
1953 34.84 1974 154.00 1995 384.18
1954 35.04 1975 160.86 1996 387.69
1955 35.03 1976 124.74 1997 331.00
1956 34.99 1977 147.84 1998 294.21
1957 34.95 1978 193.40 1999 278.76
1958 35.10 1979 306.00 2000 279.76
1959 35.10 1980 615.00 2001 277.90
1960 35.27 1981 460.00 2002 309.73
1961 35.25 1982 376.00 2003 363.38
1962 35.23 1983 424.00 2004 409.72
1963 35.09 1984 361.00 2005 444.74
1964 35.10 1985 317.00 2006 603.46
1965 35.12 1986 368.00 2007 695.39
1966 35.13 1987 447.00 2008 871.96
1967 34.95 1988 437.00 2009 1087.50
1968 39.31 1989 381.00 2010 1420.25
1969 41.28 1990 383.51 2011 1650.00
1970 36.02 1991 362.11
1971 40.62 1992 343.82

Think of it as a Puzzle

Studying historical gold prices should be fun, not a tedious analysis of heaps of dry data. Be a detective looking for clues. Here are a few hints:

  • Go back no further than 1972. Gold prices from the era of the gold standard have absolutely no bearing on those under the current fiat money system.
  • Relate the raw data to a meaningful standard. Most inflation adjusted data took a sharp departure from reality in the 1980s, when the government began fudging the figures to fuel the credit bubble. It makes a lot more sense to think in terms of purchasing power even your own unscientific gut feel.
  • Ignore the flukes. Of those, the bubble of 1980 is the bears favorite for proving their point. But flukes are just red herrings.
  • Put the data into a realistic context. Like saving, gold investing is an ongoing process, not an event. Think in terms of periodic purchases over an extended period of time, not the returns for any single year.
  • Pay special attention to trend shifts. Most economic shocks are transitory, short-term interruptions in the price of gold before they return to the trend. When there is a significant alteration of the gold price trend, look for permanent underlying shifts in socio-economic conditions.

Practice Thinking for Yourself

When you are just starting to look at historical gold prices, it pays to get a little guidance from the experts. Gold Price has assembled a professional staff of gold specialists to answer your questions and has compiled a variety of free literature that’s yours for the asking. But your goal should be to form your own ideas and opinions, because that is how you build confidence and intuition. Before you know it, you will have acquired a sound understanding of historic gold prices, and you will be well on your way to becoming your own gold expert. Learn more about Gold Prices. Next: Gold Spot Prices

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