Gold price in 1978: open, high, low, close
Gold averaged $193.17 an ounce in 1978, moving between $173.00 and $227.00. Month-by-month figures, the year's change and the inflation-adjusted value, from public data.
Gold price in 1978, month by month (US dollars per troy ounce)
| Month | Open | High | Low | Close | London avg |
|---|---|---|---|---|---|
| January | monthly average | $173.00 | |||
| February | monthly average | $178.00 | |||
| March | monthly average | $184.00 | |||
| April | monthly average | $175.00 | |||
| May | monthly average | $176.00 | |||
| June | monthly average | $184.00 | |||
| July | monthly average | $189.00 | |||
| August | monthly average | $206.00 | |||
| September | monthly average | $212.00 | |||
| October | monthly average | $227.00 | |||
| November | monthly average | $206.00 | |||
| December | monthly average | $208.00 | |||
Daily data for this year is not in our public sources, so each month shows the average London (LBMA) price from the World Bank Pink Sheet. Intraday highs and lows were more extreme than these averages.
Source: World Bank Commodity Markets (Pink Sheet) monthly London gold prices; COMEX gold futures (GC=F) daily settlements; US CPI (FRED series CPIAUCSL). Data updated ; refreshed automatically about once a day. Figures are indicative and may be revised by the sources.
Gold in 1978: the numbers
In 1978, gold averaged $193.17 an ounce, measured by monthly averages of the London (LBMA) price. It opened the year at $173.00, reached a high of $227.00 in October 1978 and a low of $173.00 in January 1978, and closed at $208.00, a change of +30.0% from the end of 1977. 9 of the 11 month-to-month changes were higher. Adjusted for inflation, the closing price equals about $1,030 in September 2026 dollars.
For context, gold closed 1977 at $160.00 and 1979 at $455.00 (+118.8% in 1979).
How this compares with the whole record
The gold price history page charts every year since 1968 and lists the open, high, low and close of each, and the all-time-high tracker shows every record close. Figures for 1978 use monthly averages of the London (LBMA) price; the London price and COMEX futures differ slightly, usually by a few dollars.
Frequently asked questions
What was the gold price in 1978?
Gold averaged $193.17 per troy ounce in 1978, measured by monthly averages of the London (LBMA) price. It opened the year at $173.00 and closed at $208.00.
What was the highest gold price in 1978?
The highest monthly average in 1978 was $227.00, in October 1978. Intraday and daily highs that year were higher than the monthly average.
What was the lowest gold price in 1978?
The lowest monthly average in 1978 was $173.00, in January 1978.
Did gold go up or down in 1978?
Gold up +30.0% in 1978, from $160.00 at the end of 1977 to $208.00. Adjusted for inflation, that closing price is about $1,030 in September 2026 dollars.
Educational information only, not financial advice and not a forecast. Past prices do not predict future prices. See our risk disclaimer and editorial policy.