A Guide to Historical Gold and Silver Prices

Gold has been a valuable commodity for thousands of years, with its price fluctuating over time due to various economic and market factors.

In the 15th century, the price of gold was around $100 per ounce, a value that remained relatively stable for centuries.

The gold standard, which pegged the value of a country's currency to the value of gold, was widely used until the mid-20th century.

During the Great Depression, gold prices plummeted to as low as $20.67 per ounce in 1932.

The price of gold began to rise in the 1960s, reaching $35 per ounce in 1968, and then continued to increase throughout the 1970s and 1980s.

Silver, another precious metal, has also experienced significant price fluctuations over the years.

In 1918, the price of silver was around $1.29 per ounce, a value that remained relatively stable until the 1970s.

The price of silver skyrocketed in the 1970s, reaching $50 per ounce in 1980, due to a combination of economic and market factors.

The price of gold and silver has been influenced by various events and economic conditions, including wars, depressions, and changes in monetary policies.

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Tracking precious metals prices is essential for making informed decisions about investing in gold, silver, platinum, and palladium. You can view historical pricing information for these metals on precious metals charts, which highlight periodic fluctuations that impact the market.

These charts list the current spot prices of gold, silver, platinum, and palladium, reflecting the "real-time" marketplace price. You can also track prices alongside social, economic, and cultural events to better identify the reasons behind a price bump or price drop.

To get started, you can view precious metals prices for a specific period, like between January 1, 1973 and December 1, 2018, or select a set period like 5 days, 1 month, 1 year, 5 years, 10 years, or the maximum period available.

A unique perspective: Gold Silver Platinum Palladium Prices

The spot price of gold is the base price of one troy ounce of gold in any form, based on trading activity in the futures markets.

The spot price is quoted in US dollars, since gold is universally priced in US dollars in markets around the world.

Gold trades around the world and around the clock, with larger exchanges including New York, London, and Shanghai.

The spot price constantly fluctuates during trading days, depending on what buyers and sellers are doing.

The spot price is the "bid" price you see listed, which is the price most recently quoted in the market that buyers are willing to purchase at.

Any transaction you make in the gold market will be based upon the spot price.

The market for gold is open from 6pm eastern to 5:15pm eastern, Sunday through Friday, with a 45-minute closure on weekdays.

Expand your knowledge: Silver Price in Australian Dollars

Platinum has historically been a more stable investment than gold, with a lower volatility rate of 14.4% compared to gold's 16.2%.

The price of platinum has been steadily increasing over the past few years, with a 5-year average annual growth rate of 3.5%.

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Platinum's price is heavily influenced by its use in catalytic converters for vehicles, which is why it's often referred to as the "catalyst metal".

The platinum price has been particularly volatile in recent years, with a 1-year average price range of $800-$1,000 per ounce.

Palladium, on the other hand, has been on a steady rise, with a 5-year average annual growth rate of 10.3%.

Palladium's price is driven by its use in the automotive industry, particularly in exhaust systems, and its limited supply has led to a significant price increase in recent years.

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Understanding precious metals charts and data is crucial for making informed investment decisions. You can track gold, silver, platinum, and palladium prices on our website, and even view historical pricing information for these precious metals.

These charts provide a visual representation of the periodic fluctuations that impact the precious metals market, highlighting the importance of economic uncertainty, currency movements, and shifts in supply and demand.

To get the most out of precious metals charts, it's essential to track prices alongside social, economic, and cultural events, as this can help you better identify the reasons behind a price bump or price drop.

You can view precious metals prices for a specific period, such as between January 1, 1973 and December 1, 2018, or select a set period like 5 days, 1 month, 1 year, 5 years, 10 years, or the maximum period available.

Here are some key periods to consider when tracking precious metals prices:

Our precious metals price charts are interactive and update in real-time, allowing you to see how the price of gold, silver, platinum, and palladium have changed over time.

For another approach, see: Is Now a Good Time to Buy Gold and Silver

Gold has played an essential role in human civilization for millennia, symbolizing wealth and serving as a currency and store of value. Its value to societies dates back thousands of years, long before the ancient Egyptians started crafting jewelry, statues, and religious artifacts from the metal.

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The price of gold has fluctuated over time due to various factors, including macroeconomic and geopolitical conditions, inflation, currency fluctuations, supply and demand considerations, and the cost of mining and refining the precious metal. Gold's primary use is as money, as a store of value.

Gold's price history has seen significant ups and downs, with notable events contributing to changes in its price. Notable highs and lows include the end of the Bretton Woods system in 1971, which allowed the U.S. dollar to float freely, and the Great Recession post-2008, which triggered a flight to safety and increased demand for gold.

Here are some notable events that have affected the price of gold:

Gold has long been considered a reliable store of wealth and value, and that reputation is not likely to change any time soon. Its price history can potentially provide clues as to where it could be headed, helping investors spot uptrends or downtrends and tradable patterns within the price data.

The gold price can seem high for just one troy ounce, but it reflects how much investors value this precious metal.

Gold has been used as a store of value for thousands of years.

Its primary use is not as a commodity in medicine or jewelry, but as a form of money.

The gold standard was abandoned in the 1970s, and since then the gold/silver ratio has hovered around 65:1.

Historically, the ratio was much lower, around 15:1.

A different take: Gold to Silver Ratio When to Buy

Gold has a rich history that spans thousands of years, dating back to ancient civilizations where it was used in ceremonial rites. Its value and significance have remained unchanged, making it a popular investment option today.

Gold was first used as a currency around the sixth century BCE, with early merchants seeking a standardized and easily transferable form of exchange. This marked a significant shift from using grain-based debts.

Gold jewelry was widely accepted and recognized throughout various civilizations, making it a natural progression to create a gold coin. Gold coins were stamped with a seal, proving more durable and fungible than other forms of currency at the time.

Its importance continued to grow with the advent of gold as commodity-based money, eventually becoming a symbol of wealth throughout Europe, Asia, Africa, and the Americas.

Gold has had its fair share of highs and lows over the years. The end of the Bretton Woods system in 1971 led to a surge in gold prices, reaching a record high of around $665 in January 1980.

Changes in the price of gold have been caused by significant events, including the Great Recession post-2008, which triggered a flight to safety and increased demand for gold. The gold price rose from around $730 in October 2008 to $1,300 by October 2010.

In 1999, gold reached a local low of about $253 per ounce due to the strong performance of the U.S. economy and the U.S. dollar. This reduced the appeal of gold as an alternative investment.

The European sovereign debt crisis of 2010-2012 raised concerns about the eurozone's stability and the global economy, causing the gold price to reach a new nominal high of about $1,825 in August 2011.

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Here are some notable highs and lows in gold prices over the years:

The COVID-19 pandemic of 2020-2021 caused unprecedented economic and social disruptions and uncertainties, causing the gold price to soar 27% from $1,575 in January 2020 to more than $2,000 by the summer of 2020.

The gold-silver ratio has been a significant factor in precious metals history and trends. It measures the amount of silver it takes to equal the value of an ounce of gold, and it has remained fairly stable throughout most of history.

The ratio started to fluctuate only in the 20th century when governments stopped trying to fix gold prices. This change has allowed the ratio to become a valuable tool for investors in precious metals.

Some investors don't only trade gold and silver, but also place bets on the direction of the ratio based on their sense of the likely direction of the prices of one or both metals.

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The gold-silver ratio can be influenced by various factors, including inflation, interest rates, and the overall performance of the stock market. It's also affected by the activity of central banks, which can impact the prices of both gold and silver.

Here's a summary of the key factors that influence the gold-silver ratio:

Understanding the gold-silver ratio and its underlying factors can help investors make informed decisions about their precious metals investments.