Gold price in 1980: open, high, low, close
Gold averaged $607.83 an ounce in 1980, moving between $514.00 and $675.00. Month-by-month figures, the year's change and the inflation-adjusted value, from public data.
Gold price in 1980, month by month (US dollars per troy ounce)
| Month | Open | High | Low | Close | London avg |
|---|---|---|---|---|---|
| January | monthly average | $675.00 | |||
| February | monthly average | $665.00 | |||
| March | monthly average | $554.00 | |||
| April | monthly average | $517.00 | |||
| May | monthly average | $514.00 | |||
| June | monthly average | $601.00 | |||
| July | monthly average | $643.00 | |||
| August | monthly average | $627.00 | |||
| September | monthly average | $674.00 | |||
| October | monthly average | $661.00 | |||
| November | monthly average | $625.00 | |||
| December | monthly average | $538.00 | |||
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 1980: the numbers
In 1980, gold averaged $607.83 an ounce, measured by monthly averages of the London (LBMA) price. It opened the year at $675.00, reached a high of $675.00 in January 1980 and a low of $514.00 in May 1980, and closed at $538.00, a change of +18.2% from the end of 1979. 3 of the 11 month-to-month changes were higher. Adjusted for inflation, the closing price equals about $2,094 in September 2026 dollars.
For context, gold closed 1979 at $455.00 and 1981 at $410.00 (−23.8% in 1981).
Gold peaked on 21 January 1980, when the London afternoon fix reached $850, as the Iranian revolution, the Soviet invasion of Afghanistan and US inflation near 14% drove a buying panic. The Federal Reserve under Paul Volcker had switched to a much tighter policy in October 1979, and as interest rates climbed toward 20% the price fell hard through the rest of the year. The monthly averages in the table smooth out that January spike.
Source: Federal Reserve History: Volcker's announcement of anti-inflation measures
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 1980 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 1980?
Gold averaged $607.83 per troy ounce in 1980, measured by monthly averages of the London (LBMA) price. It opened the year at $675.00 and closed at $538.00.
What was the highest gold price in 1980?
The highest monthly average in 1980 was $675.00, in January 1980. Intraday and daily highs that year were higher than the monthly average.
What was the lowest gold price in 1980?
The lowest monthly average in 1980 was $514.00, in May 1980.
Did gold go up or down in 1980?
Gold up +18.2% in 1980, from $455.00 at the end of 1979 to $538.00. Adjusted for inflation, that closing price is about $2,094 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.