Annual Gold Values Across Monetary Eras
Gold is used in reserves, investment, jewelry and industry. This archive tracks annual values published by the USGS.
Annual gold values and average prices: USGS nominal unit values converted from dollars per metric ton of gold to dollars per troy ounce. Annual observations, not daily highs or lows. From 2021, the series uses the annual average price table in Mineral Commodity Summaries 2026. The 2025 value is a USGS estimate.
Drag to pan, scroll to zoom, and hover for annual values.
Detailed analysis of secular supercycles, wartime allocations, and price shocks
Gold moved from monetary price controls to a traded commodity. Annual observations describe the long-term change in its dollar value without reproducing a daily London benchmark.
Nominal vs. Real Inflation-Adjusted Prices in 2026 USD
| Year | Nominal Price ($/troy oz) | Real Price (2026 USD) | CPI / Historical Estimate | Historical Context / Market Event |
|---|---|---|---|---|
| 2025 | $3,300.00 | $3,433.63 | 321.9 | Sovereign Debt Concerns & Rate Cuts |
| 2024 | $2,388.00 | $2,550.08 | 313.7 | De-Dollarization Shift & Geopolitical Safe Haven |
| 2023 | $1,945.00 | $2,138.27 | 304.7 | Record Central Bank Buying (PBOC, RBI, Turkey) |
| 2022 | $1,802.00 | $2,062.61 | 292.7 | Russia-Ukraine War & Central Bank Sanctions Freeze |
| 2021 | $1,801.00 | $2,226.44 | 271.0 | — |
| 2020 | $1,772.90 | $2,294.67 | 258.8 | COVID-19 Global Pandemic Surge (Peak $2,075/oz) |
| 2019 | $1,396.55 | $1,829.85 | 255.7 | Fed Pauses Tightening; Real Yields Drop |
| 2018 | $1,272.13 | $1,697.04 | 251.1 | — |
| 2017 | $1,259.69 | $1,721.49 | 245.1 | — |
| 2016 | $1,253.47 | $1,749.48 | 240.0 | — |
| 2015 | $1,163.27 | $1,644.07 | 237.0 | Cyclical Bear Market Low ($1,046/oz) |
| 2014 | $1,269.02 | $1,795.66 | 236.7 | — |
| 2013 | $1,415.21 | $2,035.00 | 233.0 | Taper Tantrum & 28% Annual Drop |
| 2012 | $1,673.37 | $2,441.46 | 229.6 | — |
| 2011 | $1,573.84 | $2,343.76 | 224.9 | Post-GFC Peak (Intraday High $1,921/oz) |
| 2010 | $1,228.59 | $1,887.37 | 218.1 | European Sovereign Debt Crisis |
| 2009 | $973.54 | $1,520.09 | 214.5 | — |
| 2008 | $874.01 | $1,359.83 | 215.3 | Lehman Brothers Bankruptcy; Quantitative Easing (QE) |
| 2007 | $699.83 | $1,130.64 | 207.3 | Subprime Mortgage Crisis Unfolds |
| 2006 | $606.52 | $1,007.79 | 201.6 | — |
| 2005 | $444.78 | $762.89 | 195.3 | — |
| 2004 | $410.57 | $728.06 | 188.9 | SPDR Gold Shares (GLD) ETF Launches |
| 2003 | $363.91 | $662.52 | 184.0 | — |
| 2002 | $311.03 | $579.16 | 179.9 | — |
| 2001 | $272.16 | $514.77 | 177.1 | September 11 Attacks; Multi-Year Bull Market Begins |
| 2000 | $280.24 | $545.15 | 172.2 | — |
| 1999 | $279.93 | $562.85 | 166.6 | Brown's Bottom (UK Sells Gold Reserves at Lows) |
| 1998 | $295.17 | $606.61 | 163.0 | — |
| 1997 | $332.81 | $694.60 | 160.5 | Asian Financial Crisis |
| 1996 | $388.79 | $830.07 | 156.9 | — |
| 1995 | $385.68 | $847.74 | 152.4 | — |
| 1994 | $385.68 | $871.77 | 148.2 | — |
| 1993 | $360.80 | $836.41 | 144.5 | — |
| 1992 | $345.25 | $824.31 | 140.3 | — |
| 1991 | $363.91 | $895.03 | 136.2 | — |
| 1990 | $385.68 | $988.49 | 130.7 | Gulf War (Operation Desert Storm) |
| 1989 | $382.57 | $1,033.50 | 124.0 | — |
| 1988 | $438.56 | $1,241.83 | 118.3 | — |
| 1987 | $478.99 | $1,412.44 | 113.6 | Black Monday Stock Market Crash |
| 1986 | $367.02 | $1,121.76 | 109.6 | — |
| 1985 | $317.26 | $987.68 | 107.6 | — |
| 1984 | $360.80 | $1,163.24 | 103.9 | — |
| 1983 | $423.01 | $1,422.68 | 99.6 | — |
| 1982 | $376.35 | $1,306.43 | 96.5 | Volcker Fed 20% Interest Rates Crush Inflation |
| 1981 | $460.33 | $1,696.39 | 90.9 | — |
| 1980 | $612.74 | $2,490.96 | 82.4 | Hunt Brothers Silver/Gold Mania (Intraday Peak $850) |
| 1979 | $307.61 | $1,419.34 | 72.6 | Iranian Revolution & Second Oil Shock |
| 1978 | $193.46 | $993.96 | 65.2 | — |
| 1977 | $148.36 | $820.11 | 60.6 | — |
| 1976 | $125.35 | $737.94 | 56.9 | — |
| 1975 | $161.43 | $1,005.11 | 53.8 | — |
| 1974 | $159.87 | $1,086.29 | 49.3 | US Citizens Allowed to Own Gold Again |
| 1973 | $97.66 | $736.84 | 44.4 | First OPEC Oil Shock |
| 1972 | $58.47 | $468.61 | 41.8 | — |
| 1971 | $41.37 | $342.16 | 40.5 | Nixon Closes Gold Window (End of Bretton Woods) |
| 1970 | $36.39 | $314.18 | 38.8 | — |
| 1969 | $41.37 | $377.58 | 36.7 | — |
| 1968 | $40.12 | $386.22 | 34.8 | London Gold Pool Collapses; Two-Tier Market |
| 1967 | $35.15 | $352.50 | 33.4 | — |
| 1966 | $35.15 | $363.38 | 32.4 | — |
| 1965 | $35.15 | $373.76 | 31.5 | — |
| 1964 | $35.15 | $379.79 | 31.0 | — |
| 1963 | $35.15 | $384.76 | 30.6 | — |
| 1962 | $35.15 | $389.85 | 30.2 | — |
| 1961 | $35.15 | $393.76 | 29.9 | — |
| 1960 | $35.15 | $397.75 | 29.6 | London Gold Pool Created to Defend $35 Peg |
| 1959 | $35.15 | $404.59 | 29.1 | — |
| 1958 | $35.15 | $407.39 | 28.9 | — |
| 1957 | $34.84 | $415.28 | 28.1 | — |
| 1956 | $35.15 | $432.85 | 27.2 | — |
| 1955 | $35.15 | $439.31 | 26.8 | — |
| 1954 | $35.15 | $437.68 | 26.9 | — |
| 1953 | $34.84 | $437.05 | 26.7 | — |
| 1952 | $34.52 | $436.42 | 26.5 | — |
| 1951 | $34.84 | $448.82 | 26.0 | — |
| 1950 | $34.84 | $484.20 | 24.1 | — |
| 1949 | $31.73 | $446.53 | 23.8 | — |
| 1948 | $34.84 | $484.20 | 24.1 | — |
| 1947 | $34.84 | $523.29 | 22.3 | — |
| 1946 | $34.84 | $598.43 | 19.5 | — |
| 1945 | $34.84 | $648.30 | 18.0 | — |
| 1944 | $33.90 | $645.27 | 17.6 | Bretton Woods Agreement Established |
| 1943 | $33.90 | $656.46 | 17.3 | — |
| 1942 | $33.90 | $696.73 | 16.3 | — |
| 1941 | $33.90 | $772.57 | 14.7 | — |
| 1940 | $33.90 | $811.20 | 14.0 | — |
| 1939 | $34.52 | $832.02 | 13.9 | — |
| 1938 | $34.84 | $827.61 | 14.1 | — |
| 1937 | $34.84 | $810.37 | 14.4 | — |
| 1936 | $34.84 | $839.52 | 13.9 | — |
| 1935 | $34.84 | $851.78 | 13.7 | — |
| 1934 | $34.84 | $870.85 | 13.4 | Gold Reserve Act of 1934 (Devaluation to $35/oz) |
| 1933 | $26.34 | $678.84 | 13.0 | FDR Executive Order 6102 (Gold Confiscation) |
| 1932 | $20.68 | $505.74 | 13.7 | — |
| 1931 | $22.49 | $495.59 | 15.2 | — |
| 1930 | $20.59 | $413.02 | 16.7 | — |
| 1929 | $20.62 | $403.97 | 17.1 | Great Depression Begins |
| 1928 | $20.68 | $405.18 | 17.1 | — |
| 1927 | $20.65 | $397.60 | 17.4 | — |
| 1926 | $20.62 | $390.27 | 17.7 | — |
| 1925 | $20.65 | $395.33 | 17.5 | — |
| 1924 | $20.68 | $405.18 | 17.1 | — |
| 1923 | $20.65 | $404.58 | 17.1 | — |
| 1922 | $20.75 | $413.66 | 16.8 | — |
| 1921 | $20.59 | $385.33 | 17.9 | — |
| 1920 | $20.53 | $343.83 | 20.0 | — |
| 1919 | $19.94 | $386.05 | 17.3 | — |
| 1918 | $19.75 | $438.15 | 15.1 | — |
| 1917 | $19.56 | $512.00 | 12.8 | — |
| 1916 | $19.38 | $595.51 | 10.9 | — |
| 1915 | $19.16 | $635.46 | 10.1 | — |
| 1914 | $18.97 | $635.56 | 10.0 | — |
| 1913 | $18.91 | $639.88 | 9.9 | — |
| 1912 | $18.94 | $658.38 | 9.6 | — |
| 1911 | $18.91 | $677.56 | 9.3 | — |
| 1910 | $18.91 | $677.56 | 9.3 | — |
| 1909 | $18.94 | $703.12 | 9.0 | — |
| 1908 | $18.94 | $703.12 | 9.0 | — |
| 1907 | $18.94 | $677.56 | 9.4 | — |
| 1906 | $18.91 | $703.12 | 9.0 | — |
| 1905 | $18.88 | $703.13 | 9.0 | — |
| 1904 | $18.91 | $703.12 | 9.0 | — |
| 1903 | $18.94 | $703.12 | 9.0 | — |
| 1902 | $18.94 | $728.70 | 8.7 | — |
| 1901 | $18.97 | $760.65 | 8.4 | — |
| 1900 | $18.94 | $760.65 | 8.3 | Gold Standard Fixed Rate ($20.67/oz) |
Targeted answers to high-frequency historical and economic queries
U.S. Geological Survey (USGS): Gold Historical Statistics, Data Series 140
U.S. Geological Survey (USGS): Mineral Commodity Summaries 2026: Gold
Commodities History Project. (2026). Gold Historical Prices and Inflation-Adjusted Series (1900–2025) [Data set]. CommoditiesHistory.com. https://commoditieshistory.com/gold
@dataset{commoditieshistory_gold_2026,
author = {{Commodities History Project}},
title = {Gold Historical Prices and Inflation-Adjusted Series (1900–2025)},
year = {2026},
publisher = {CommoditiesHistory.com},
url = {https://commoditieshistory.com/gold}
}