Price of Gold in 1971

The following data is for Gold Price in 1971.

Additional Gold Price history and also current info can be found on our main live Gold Price page.

Gold Price 1971 Chart

(1971 US dollar price per troy ounce of gold)

Gold Prices 1971 chart history SD Bullion SDBullion.com

Nixon Shock - August 15, 1971 led to Future US dollar Devaluations

As we covered in our 1968 gold price page, the 1944 Bretton Woods agreement was coming undone due to a combination of a low defaltionary fixed $35 oz USD gold price in 1934 (which only then covered some 40% of the US dollar monetary base).

Various wars and unfunded expenditure programs followed putting pressure on US gold bullion outflows. Some 10,000 tonnes of gold bullion left US reserves from the end of WWII to this unofficial ending of the Bretton Woods agreement and Nixon's 'temporary' monetary policy measures.

It was not boogie man 'speculators' that forced this. Ultimately it was another unrealistic currency peg coming to a close due to growing government expenditures year after year. Put simply, the US did not have enough gold bullion to back the US dollars it had put into circulation. Rather than lose what gold bullion it had left, this policy effectively ended the agreement.

Below is Nixon Sunday evening presentation embedded to start at the key moment in relation to gold prices from that date onwards.

 

Since that day's roughly $43 oz USD gold price, the US dollar has lost over 96% of its value to gold bullion to date.

Of historical note too, at the time freedom loving US citizens were not allowed to even own over 5 oz of gold bullion (stemming back to the 1934 gold nationalization). Private gold bullion ownership of over 5 oz per US citizen was not remade legal until the start of 1975. By then the gold price was already hovering around $200 oz USD.

Only some 3 1/2 months later, at the Smithsonian Agreement. the US dollar was devalued -10.7% vs other key currencies and -8.5% to gold. This was also somewhat 'temporary' for by middle February 1973, the US dollar was again devalued another -10% against foreign currency values at the time.

Also of note, the Group of 10 who congregated at the Smithsonian Agreement also planned to balance the world financial system using IMF Special Drawing Rights (SDRs) alone.

Like the US dollar and all other fiat currencies, the IMF SDRs, have also been an abject failure at maintaining its value versus gold, silver, platinum, and palladium bullion since.

IMF SDR vs Gold beatdown just another fiat folks SD Bullion SDBullion.com Gold Prices 1971

1971 Gold Prices - Daily Gold Price Fix Data Below

London Bullion Market Association: LBMA Gold Price Auction, expected auction start London time locally around 10:30 AM and 15:00 PM.

Gold fix prices represent composite prices arrived at by various trading banks and brokerages in the over-the-counter Gold bullion markets.

Foreign exchange (forex) prices are the most widely quoted in the precious metals industry.

Worldwide forex gold markets trade continuously 24 hours a day from Sunday evening 6:00 PM (Eastern Time) to Friday 5:00 PM (Eastern Time).

Viewer acknowledges and is in agreement that SD Bullion does not guarantee the accuracy, timelines, or completeness of price data displayed here. Nor shall it be liable to any individual or any entity for any delays, inaccuracies, errors or omissions in this price data or any other damages arising in connection with viewer's receipt or use of this data. SD Bullion offers customers the ability to purchase physical precious metal bullion products for asset preservation and prudent allocation purposes, not for mere speculation. Using our online price data, market commentaries, and opinions for speculative purposes is not advised, we are not financial planners nor certified to give you any financial advice whatsoever. Information here is merely for educational purposes.

Date

Gold Price Fix AM in US dollars per troy ounce

Gold Price Fix PM in US dollars per troy ounce

January 4, 1971

$37.33 oz

$37.44 oz

January 5, 1971

$37.50 oz

$37.51 oz

January 6, 1971

$37.50 oz

$37.42 oz

January 7, 1971

$37.39 oz

$37.39 oz

January 8, 1971

$37.51 oz

$37.50 oz

January 11, 1971

$37.50 oz

$37.75 oz

January 12, 1971

$37.85 oz

$37.95 oz

January 13, 1971

$38.27 oz

$38.02 oz

January 14, 1971

$38.10 oz

$37.95 oz

January 15, 1971

$38.15 oz

$38.10 oz

January 18, 1971

$38.10 oz

$38.05 oz

January 19, 1971

$37.92 oz

$37.90 oz

January 20, 1971

$38.02 oz

$38.12 oz

January 21, 1971

$38.17 oz

$38.08 oz

January 22, 1971

$37.95 oz

$37.94 oz

January 25, 1971

$37.90 oz

$38.05 oz

January 26, 1971

$38.10 oz

$38.15 oz

January 27, 1971

$38.02 oz

$38.05 oz

January 28, 1971

$38.05 oz

$38.05 oz

January 29, 1971

$38.00 oz

$38.05 oz

February 1, 1971

$38.10 oz

$38.17 oz

February 2, 1971

$38.35 oz

$38.50 oz

February 3, 1971

$38.70 oz

$38.92 oz

February 4, 1971

$38.48 oz

$38.46 oz

February 5, 1971

$38.45 oz

$38.41 oz

February 8, 1971

$38.50 oz

$38.70 oz

February 9, 1971

$38.73 oz

$38.85 oz

February 10, 1971

$38.85 oz

$38.85 oz

February 11, 1971

$38.88 oz

$38.95 oz

February 12, 1971

$39.05 oz

$38.85 oz

February 15, 1971

$38.90 oz

$38.95 oz

February 16, 1971

$38.95 oz

$38.95 oz

February 17, 1971

$38.90 oz

$38.88 oz

February 18, 1971

$38.85 oz

$38.84 oz

February 19, 1971

$38.78 oz

$38.73 oz

February 22, 1971

$38.75 oz

$38.75 oz

February 23, 1971

$38.80 oz

$38.79 oz

February 24, 1971

$38.77 oz

$38.75 oz

February 25, 1971

$38.75 oz

$38.78 oz

February 26, 1971

$38.79 oz

$38.80 oz

March 1, 1971

$38.75 oz

$38.69 oz

March 2, 1971

$38.70 oz

$38.71 oz

March 3, 1971

$38.77 oz

$38.81 oz

March 4, 1971

$38.77 oz

$38.75 oz

March 5, 1971

$38.76 oz

$38.75 oz

March 8, 1971

$38.75 oz

$38.79 oz

March 9, 1971

$38.81 oz

$38.81 oz

March 10, 1971

$38.84 oz

$38.84 oz

March 11, 1971

$38.96 oz

$39.00 oz

March 12, 1971

$39.02 oz

$39.04 oz

March 15, 1971

$39.08 oz

$39.00 oz

March 16, 1971

$38.98 oz

$38.90 oz

March 17, 1971

$38.92 oz

$38.92 oz

March 18, 1971

$38.95 oz

$39.00 oz

March 19, 1971

$39.02 oz

$38.95 oz

March 22, 1971

$38.95 oz

$38.96 oz

March 23, 1971

$38.92 oz

$38.95 oz

March 24, 1971

$38.92 oz

$38.89 oz

March 25, 1971

$38.91 oz

$38.92 oz

March 26, 1971

$38.90 oz

$38.88 oz

March 29, 1971

$38.83 oz

$38.77 oz

March 30, 1971

$38.75 oz

$38.80 oz

March 31, 1971

$38.80 oz

$38.88 oz

April 1, 1971

$38.95 oz

$38.90 oz

April 2, 1971

$38.83 oz

$38.88 oz

April 5, 1971

$38.90 oz

$38.89 oz

April 6, 1971

$38.90 oz

$38.85 oz

April 7, 1971

$38.92 oz

$38.90 oz

April 8, 1971

$38.95 oz

$38.98 oz

April 13, 1971

$38.90 oz

$38.95 oz

April 14, 1971

$38.90 oz

$38.90 oz

April 15, 1971

$38.89 oz

$38.91 oz

April 16, 1971

$38.93 oz

$38.95 oz

April 19, 1971

$38.95 oz

$38.95 oz

April 20, 1971

$38.95 oz

$38.91 oz

April 21, 1971

$38.91 oz

$38.90 oz

April 22, 1971

$38.98 oz

$39.15 oz

April 23, 1971

$39.09 oz

$39.05 oz

April 26, 1971

$39.00 oz

$38.90 oz

April 27, 1971

$38.91 oz

$38.95 oz

April 28, 1971

$39.15 oz

$39.23 oz

April 29, 1971

$39.42 oz

$39.45 oz

April 30, 1971

$39.60 oz

$39.70 oz

May 3, 1971

$39.42 oz

$39.43 oz

May 4, 1971

$39.86 oz

$39.65 oz

May 5, 1971

$39.66 oz

$40.10 oz

May 6, 1971

$40.20 oz

$40.30 oz

May 7, 1971

$39.88 oz

$39.77 oz

May 10, 1971

$39.65 oz

$39.84 oz

May 11, 1971

$40.00 oz

$40.20 oz

May 12, 1971

$40.70 oz

$40.45 oz

May 13, 1971

$40.85 oz

$40.80 oz

May 14, 1971

$40.80 oz

$41.20 oz

May 17, 1971

$41.10 oz

$40.70 oz

May 18, 1971

$41.20 oz

$40.90 oz

May 19, 1971

$40.50 oz

$40.60 oz

May 20, 1971

$40.80 oz

$41.15 oz

May 21, 1971

$41.05 oz

$40.98 oz

May 24, 1971

$40.75 oz

$40.77 oz

May 25, 1971

$40.98 oz

$41.02 oz

May 26, 1971

$40.96 oz

$40.90 oz

May 27, 1971

$40.70 oz

$40.70 oz

May 28, 1971

$40.80 oz

$40.84 oz

June 1, 1971

$40.85 oz

$40.84 oz

June 2, 1971

$40.65 oz

$40.60 oz

June 3, 1971

$40.52 oz

$40.60 oz

June 4, 1971

$40.60 oz

$40.60 oz

June 7, 1971

$40.50 oz

$40.45 oz

June 8, 1971

$40.30 oz

$40.17 oz

June 9, 1971

$39.95 oz

$39.92 oz

June 10, 1971

$39.60 oz

$39.75 oz

June 11, 1971

$39.65 oz

$39.60 oz

June 14, 1971

$39.60 oz

$39.55 oz

June 15, 1971

$39.49 oz

$39.59 oz

June 16, 1971

$39.77 oz

$39.98 oz

June 17, 1971

$39.95 oz

$39.84 oz

June 18, 1971

$39.90 oz

$39.95 oz

June 21, 1971

$39.95 oz

$39.95 oz

June 22, 1971

$40.10 oz

$40.12 oz

June 23, 1971

$40.25 oz

$40.30 oz

June 24, 1971

$40.40 oz

$40.38 oz

June 25, 1971

$40.11 oz

$40.10 oz

June 28, 1971

$40.08 oz

$39.95 oz

June 29, 1971

$39.88 oz

$39.90 oz

June 30, 1971

$40.20 oz

$40.10 oz

July 1, 1971

$40.10 oz

$40.24 oz

July 2, 1971

$40.41 oz

$40.38 oz

July 5, 1971

$40.23 oz

$40.30 oz

July 6, 1971

$40.30 oz

$40.30 oz

July 7, 1971

$40.20 oz

$40.25 oz

July 8, 1971

$40.27 oz

$40.27 oz

July 9, 1971

$40.24 oz

$40.24 oz

July 12, 1971

$40.35 oz

$40.38 oz

July 13, 1971

$40.35 oz

$40.31 oz

July 14, 1971

$40.40 oz

$40.35 oz

July 15, 1971

$40.44 oz

$40.42 oz

July 16, 1971

$40.60 oz

$40.74 oz

July 19, 1971

$41.01 oz

$41.00 oz

July 20, 1971

$40.98 oz

$40.90 oz

July 21, 1971

$41.20 oz

$41.16 oz

July 22, 1971

$41.59 oz

$41.70 oz

July 23, 1971

$41.58 oz

$41.62 oz

July 26, 1971

$41.45 oz

$41.75 oz

July 27, 1971

$41.98 oz

$41.90 oz

July 28, 1971

$42.09 oz

$42.05 oz

July 29, 1971

$42.21 oz

$42.27 oz

July 30, 1971

$42.48 oz

$42.40 oz

August 2, 1971

$42.48 oz

$42.35 oz

August 3, 1971

$42.15 oz

$42.25 oz

August 4, 1971

$42.19 oz

$42.50 oz

August 5, 1971

$42.80 oz

$42.75 oz

August 6, 1971

$42.65 oz

$42.56 oz

August 9, 1971

$42.90 oz

$43.94 oz

August 10, 1971

$43.30 oz

$43.25 oz

August 11, 1971

$42.75 oz

$42.85 oz

August 12, 1971

$43.23 oz

$43.25 oz

August 13, 1971

$43.27 oz

$43.00 oz

August 16, 1971

August 17, 1971

$43.05 oz

August 18, 1971

$43.00 oz

$43.15 oz

August 19, 1971

$43.40 oz

$43.30 oz

August 20, 1971

$43.30 oz

$43.30 oz

August 23, 1971

$43.25 oz

$43.30 oz

August 24, 1971

$43.10 oz

$43.20 oz

August 25, 1971

$43.10 oz

$42.77 oz

August 26, 1971

$42.75 oz

$42.00 oz

August 27, 1971

$41.10 oz

$41.12 oz

August 31, 1971

$41.00 oz

$40.65 oz

September 1, 1971

$40.70 oz

$41.10 oz

September 2, 1971

$41.60 oz

$41.38 oz

September 3, 1971

$41.73 oz

$41.70 oz

September 6, 1971

$41.80 oz

$41.73 oz

September 7, 1971

$41.70 oz

$41.65 oz

September 8, 1971

$41.33 oz

$41.40 oz

September 9, 1971

$41.70 oz

$41.75 oz

September 10, 1971

$41.58 oz

$41.65 oz

September 13, 1971

$41.59 oz

$41.62 oz

September 14, 1971

$41.85 oz

$41.79 oz

September 15, 1971

$41.89 oz

$41.95 oz

September 16, 1971

$42.23 oz

$42.24 oz

September 17, 1971

$42.10 oz

$42.05 oz

September 20, 1971

$42.05 oz

$42.30 oz

September 21, 1971

$42.30 oz

$42.31 oz

September 22, 1971

$42.20 oz

$42.20 oz

September 23, 1971

$42.25 oz

$42.24 oz

September 24, 1971

$42.65 oz

$42.50 oz

September 27, 1971

$42.35 oz

$42.58 oz

September 28, 1971

$42.73 oz

$43.15 oz

September 29, 1971

$42.70 oz

$42.60 oz

September 30, 1971

$42.48 oz

$42.60 oz

October 1, 1971

$42.17 oz

$42.40 oz

October 4, 1971

$42.50 oz

$42.52 oz

October 5, 1971

$42.35 oz

$42.42 oz

October 6, 1971

$42.44 oz

$42.45 oz

October 7, 1971

$42.45 oz

$42.55 oz

October 8, 1971

$42.50 oz

$42.45 oz

October 11, 1971

$42.45 oz

$42.51 oz

October 12, 1971

$42.52 oz

$42.51 oz

October 13, 1971

$42.60 oz

$42.70 oz

October 14, 1971

$42.54 oz

$42.62 oz

October 15, 1971

$42.58 oz

$42.55 oz

October 18, 1971

$42.51 oz

$42.56 oz

October 19, 1971

$42.55 oz

$42.58 oz

October 20, 1971

$42.50 oz

$42.52 oz

October 21, 1971

$42.52 oz

$42.48 oz

October 22, 1971

$42.48 oz

$42.48 oz

October 25, 1971

$42.48 oz

$42.52 oz

October 26, 1971

$42.50 oz

$42.50 oz

October 27, 1971

$42.51 oz

$42.48 oz

October 28, 1971

$42.45 oz

$42.45 oz

October 29, 1971

$42.40 oz

$42.34 oz

November 1, 1971

$42.12 oz

$42.15 oz

November 2, 1971

$42.40 oz

$42.33 oz

November 3, 1971

$42.20 oz

$42.20 oz

November 4, 1971

$42.15 oz

$42.20 oz

November 5, 1971

$42.25 oz

$42.33 oz

November 8, 1971

$42.35 oz

$42.40 oz

November 9, 1971

$42.48 oz

$42.52 oz

November 10, 1971

$42.62 oz

$42.62 oz

November 11, 1971

$42.55 oz

$42.61 oz

November 12, 1971

$42.60 oz

$42.70 oz

November 15, 1971

$42.85 oz

$42.85 oz

November 16, 1971

$43.00 oz

$42.80 oz

November 17, 1971

$42.81 oz

$42.84 oz

November 18, 1971

$43.00 oz

$43.12 oz

November 19, 1971

$43.15 oz

$43.10 oz

November 22, 1971

$43.25 oz

$43.25 oz

November 23, 1971

$43.20 oz

$43.26 oz

November 24, 1971

$43.38 oz

$43.42 oz

November 25, 1971

$43.64 oz

$43.52 oz

November 26, 1971

$43.33 oz

$43.40 oz

November 29, 1971

$43.65 oz

$43.66 oz

November 30, 1971

$43.55 oz

$43.60 oz

December 1, 1971

$43.50 oz

$43.54 oz

December 2, 1971

$43.60 oz

$43.75 oz

December 3, 1971

$43.73 oz

$43.80 oz

December 6, 1971

$43.90 oz

$43.98 oz

December 7, 1971

$43.88 oz

$43.80 oz

December 8, 1971

$43.60 oz

$43.45 oz

December 9, 1971

$43.50 oz

$43.65 oz

December 10, 1971

$43.67 oz

$43.69 oz

December 13, 1971

$43.65 oz

$43.62 oz

December 14, 1971

$43.65 oz

$43.65 oz

December 15, 1971

$43.61 oz

$43.58 oz

December 16, 1971

$43.40 oz

$43.17 oz

December 17, 1971

$43.05 oz

$42.75 oz

December 20, 1971

$42.40 oz

$42.72 oz

December 21, 1971

$42.95 oz

$43.12 oz

December 22, 1971

$43.15 oz

$43.35 oz

December 23, 1971

$43.52 oz

$43.42 oz

December 24, 1971

$43.29 oz

December 28, 1971

$43.30 oz

$43.39 oz

December 29, 1971

$43.52 oz

$43.55 oz

December 30, 1971

$43.50 oz

$43.55 oz

December 31, 1971

$43.62 oz

$43.62 oz

LBMA Gold price fix history data is posted with permission. All rights are reserved.


1971 Cost of Living Context in then US dollar terms (USD)

1971 cost of living Silver Prices 1971 chart history SD Bullion SDBullion.com

1971 Car Prices (New)

Ford, Torino, Squire Station Wagon, $3,895.00

Ford, Mustang, Grande, $3,395.00

Ford, Maverick, $2,195.00


1971 Car Prices (Used)

1967, Pontiac Firebird, $1,195.00

1966, Ford, Galaxie, convertible, $850.00

1964, Ford, Falcon, station wagon, $395.00


1971 Real Estate - Houses for sale

Lincoln Park, 3 bedrooms, $34,500.00

Long Valley, 3 bedrooms, $42,000.00

Mendham, 5 bedrooms, 9 acres, pond, $125,000.00


1971 Real Estate - Houses for rent

Morristown, 2 bedrooms, $255.00/month

Parsippany, 7 room ranch, 2 acres, $400.00/month

Rockaway, 6 rooms, $380.00/month


1971 Real Estate - Rooms for rent

Lake Hiawatha, 2 bedroom, $200.00/month

Parsippany, 3 rooms, $225.00/month


Daily Gold Price Data 1968 - 2017

Click the year of your choice below for both Daily Gold Price History and Yearly Gold Price Charts throughout this ongoing Fiat Currency Era.