Gold Prices By The Decade
With the following 10 Gold Price by Year charts, you will be able to ascertain where the gold price in US dollar terms was for whichever year you are researching over the last century.
For further breakdowns on gold prices past and present, you can also find the following information at SD Bullion for free:
- Gold price history stretching back millennia before the founding of the USA and afterward
- Gold Investing Fundamentals: Extensive free guide
- Daily gold price information from 1967 through 2017, yearly links can be found under the respective charts below.
Gold Prices 1920 - 1929
The chart depicts the price of gold from 1920 to 1929. During this period, the price remained relatively stable, fluctuating between $20 and $21 per ounce. While there were minor ups and downs, the overall trend was one of consistency. This stability can be attributed to several factors, including the relatively stable economic conditions of the early 1920s and the established gold standard, which tied the value of many currencies to gold.
Gold Prices 1930 - 1939
The chart illustrates the dramatic shift in gold prices between 1930 and 1939. Initially, the price remained steady at $20.67 per ounce, mirroring the stability of the previous decade. However, a sharp increase occurred around 1933, culminating in a significant jump to $35 per ounce in 1934. This price remained relatively stable until the end of the decade. These fluctuations were largely influenced by the Great Depression and subsequent economic policies, including the United States' decision to abandon the gold standard and raise the official price of gold.
Gold Prices 1940 - 1949
The chart illustrates the price of gold from 1940 to 1949. In contrast to the previous decade's stability, the price saw a gradual increase throughout this period. Starting at around $34.50 in 1940, the price steadily climbed, reaching $43.00 in 1947. While there were minor fluctuations, the overall trend was upward. This increase can be attributed to several factors, including increased industrial demand for gold during and after World War II, as well as growing investor confidence in the metal as a store of value amidst post-war economic uncertainties.
Gold Prices 1950 - 1959
The chart illustrates the price of gold from 1950 to 1959. After reaching a peak of around $44.00 in the early 1950s, the price of gold stabilized and remained relatively constant throughout the latter half of the decade. This stability can be attributed to several factors, including ongoing economic recovery from the war, government policies aimed at maintaining price stability, and a consistent demand for gold in various industries.
Gold Prices 1960 - 1969
The chart illustrates the fluctuations in gold prices from 1960 to 1969. While relatively stable in the early and mid-1960s, a clear upward trend emerged toward the decade's end, culminating in a sharp spike in 1968 and 1969. This period was marked by increasing geopolitical tensions, including the Vietnam War, and growing economic concerns related to inflation. As a result, investors increasingly sought the safe-haven asset of gold, driving up prices. Moreover, the United States' balance of payments deficit widened during these years, further contributing to the devaluation of the dollar and, consequently, the rise in gold's value.
Gold Prices 1970 - 1979
The chart illustrates the fluctuations in gold prices from 1970 to 1979. In contrast to the previous decade, which saw relatively stable prices, the 1970s were marked by a dramatic surge in gold's value. This period was a time of significant economic upheaval, characterized by the 1973 oil crisis, which triggered a global recession and rampant inflation. As traditional currencies lost value, investors turned to gold as a hedge against inflation and economic uncertainty. Additionally, the United States abandoned the Bretton Woods system in 1971, ending the direct convertibility of the US dollar to gold, further fueling the metal's price increase. The decade culminated in a record-breaking price in 1980, solidifying gold's status as a valuable investment during times of economic turmoil.
Gold Prices 1980 - 1989
The chart illustrates the volatile gold prices from 1980 to 1989. In contrast to the sharp rise in the previous decade, the 1980s saw a dramatic reversal, with gold prices plummeting from a record high in 1980 to a significantly lower level by the end of the decade. This downturn was influenced by several factors. The early 1980s were marked by aggressive monetary policies implemented by the Federal Reserve, led by Paul Volcker, aiming to curb inflation. These policies led to increased interest rates and a stronger US dollar, both of which negatively impacted gold prices. Additionally, geopolitical tensions eased during the decade, reducing the demand for gold as a safe-haven asset. By the late 1980s, the gold market had stabilized, with prices fluctuating within a narrower range.
Gold Prices 1990 - 1999
The chart depicts the fluctuating price of gold from 1990 to 1999. In contrast to the sharp rises and falls of previous decades, this period was characterized by a general downward trend. Several factors contributed to this decline. The end of the Cold War in the early 1990s reduced geopolitical tensions, diminishing the demand for gold as a safe-haven asset. Additionally, robust economic growth in many parts of the world during the 1990s led to increased investor confidence in traditional financial instruments, diverting attention away from gold. Furthermore, the significant increase in gold production during this period added to the downward pressure on prices. By the end of the decade, gold had lost much of its luster as an investment, with prices settling at a considerably lower level than at the beginning of the period.
Gold Prices 2000 - 2009
The chart illustrates the volatile gold prices from 2000 to 2009. While the decade began with a relatively stable and low price, a dramatic upward trend emerged in the mid-2000s, culminating in a sharp spike in 2008. This period was marked by significant economic and geopolitical events. The dot-com bubble burst in 2000, followed by the September 11th attacks in 2001, both contributing to initial price volatility. However, the global financial crisis of 2008, characterized by the collapse of major financial institutions and widespread economic uncertainty, triggered a surge in demand for gold as a safe-haven asset. As investors sought to protect their wealth amidst market turmoil, gold prices reached record highs, reflecting its role as a hedge against economic instability.
Gold Prices 2010 - 2020
The chart illustrates the volatile gold prices from 2010 to 2020. The decade began with a sharp rise, peaking in 2011 amidst concerns about the global economic recovery and the Eurozone debt crisis. Gold's reputation as a safe-haven asset during times of uncertainty contributed to this surge. However, as the global economy stabilized and central banks introduced stimulus measures, gold prices experienced a significant decline in the following years. The period from 2013 to 2015 was marked by relative price stability, with occasional fluctuations. Towards the end of the decade, renewed economic and geopolitical uncertainties, including trade tensions and the COVID-19 pandemic, led to a resurgence in gold prices, highlighting its role as a hedge against risk.
