Historical Spot Prices | History of Fixes | Historical Futures Prices

Historical Futures Prices Graphs

	Gold Price History		Silver Price History
	Platinum Price History		Palladium Price History

Significant Events Affecting U.S. Gold Prices Since 1961
(Source: USGS)

1997-98	Central banks of several countries sell large shares of gold holdings to meet common-currency criteria for European Union or to demonetize; bank failures or insolvencies in East and Southeast Asian countries
1992-96	Gold price remains relatively stable
1989-91	Conflict in the Persian Gulf and the breaking up of the Soviet Union, erosion of gold's role as a safe haven for investors, generally weak economic growth worldwide
1982-88	Fluctuating world currency exchange rates, increasing concern about U.S. trade and budget deficits and banking problems, and Third World debt
1980	Gold price peaks at a historic daily high of $850 per ounce on January 21, IMF completes 5-year gold sales program
1979	Soviet Union invades Afghanistan; political upheaval in Iran, taking of U.S. hostages
1978	U.S.Treasury resumes selling gold, Middle Eastern investors increase gold purchases
1977	Hiatus in U.S. Treasury gold sales
1976	International Monetary Fund (IMF) begins 5-year gold sales program, IMF auctions and lower inflation outlook drive gold prices down
1975	U.S. Treasury begins public sales of gold stocks
1974	U.S. citizens allowed to hold gold bullion and coins for the first time in 40 years
1973	Official U.S. gold price increased to $42.22, dollar devalued, two-tier gold price terminated, Organization of Petroleum Exporting Countries (OPEC) oil embargo begins
1972	Official U.S. gold price increased to $38 per ounce
1971	President suspends convertibility of dollar into gold, dollar devalued by 7.9%
1969-70	Mild U.S. recession
1968	The London gold pool sustained enormous losses and was discontinued; the two-tier gold price was established, one tier was for official monetary transactions, the other for open-market transactions
1961	The London gold pool was established in which U.S. central banks and seven other nations agreed to buy and sell gold to support the $35 per troy ounce price that had been established on January 31, 1934

Significant Events Affecting Silver Prices Since 1950
(Source: USGS)

1985	U.S. Mint authorized to begin minting a silver bullion coin
1979-80	Attempt to corner the silver market
1968	Redemption of silver certificates for silver could only be made until June 24; thereafter, silver certificates would be exchanged for Federal Reserve Notes
1967	Announcement by U.S. Government that all silver coins would be withdrawn from circulation
1965	Silver eliminated from all U.S. coins except the half dollar, which has its silver content reduced from 90% to 40%
1963	Silver Purchase Act and various other legislation repealed; U.S. Treasury authorized to print Federal Reserve Notes, which were not redeemable for silver, for circulating currency
1950-68	Huge U.S. Government silver holdings largely depleted

Significant Events Affecting Platinum-Group Metals (PGM) Prices Since 1964
(Source: USGS)

1986	Platinum price increase after a work stoppage at Impala Platinum Holdings Ltd. in South Africa
1984	Price increase for rhodium because of higher demand for rhodium in automobile three-way catalytic converters
1983	Rustenburg Platinum Holdings Ltd. in South Africa suspends its producer price quotations for PGM, increased trading of futures contracts on the New York Mercantile Exchange (NYMEX)
1980	Strong investor speculation pushes up prices for all precious metals
1973	Anticipated demand for platinum and palladium in automobile catalytic converters in the United States puts pressure on prices, catalytic converters first used in 1974
1971	PGM price declines owing to expansion of production in South Africa and economic recessions in the United States and other countries
1964-68	Tight supply for platinum owing to start-up demands for new petroleum refineries

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