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Gold Price in 1980

The gold price rose 15.2% in 1980, from $512.00 at the end of 1979 to $589.75. Its highest close was $850.00 on Jan 21 — a record that stood until January 3, 2008, and its lowest $481.50 on Mar 18. The biggest one-day fall was −13.2% on Jan 22 and the biggest rise +13.3% on Jan 3. Adjusted for inflation, it gained 2.4%.

Change in 1980
+15.2%
$512.00 → $589.75
High
$850.00
Jan 21
Low
$481.50
Mar 18
After inflation
+2.4%
US CPI
Up days
125 of 252
longest run 11 up, 5 down
Record highs
7
closing records

Gold Price, daily closes 1980

Numbers mark the events below
$516$666$815previous recordJanFebMarAprMayJunJulAugSepOctNovDec1Jan 2: Gold sets the first of 7 record closing highs this year, at $559.50.2Jan 3: Gold closes above $600 for the first time ($634.00). Biggest one-day rise of the year: +13.3%.3Jan 16: Gold closes above $700 for the first time ($760.00).4Jan 18: Gold closes above $800 for the first time ($835.00).5Jan 21: Gold peaks at $850 an ounce at the London afternoon fix.6Jan 22: Biggest one-day fall of the year: −13.2%.7Jan 25: Enters a bear market: 20% below its peak of $850.00 (January 21, 1980).8Mar 18: Bear market low: $481.50, 43.4% below the peak.9Sep 22: Iraq invades Iran, starting the Iran-Iraq War.10Dec 11: Enters a bear market: 20% below its peak of $711.00 (September 23, 1980).

Key Events in 1980

What happened, and how the Gold moved — on the day (or the next trading day) and about a month later.

  1. 1
    Wednesday, January 2 From the data
    Gold sets the first of 7 record closing highs this year, at $559.50.
  2. 2
    Thursday, January 3 From the data
    Gold closes above $600 for the first time ($634.00). Biggest one-day rise of the year: +13.3%.
  3. 3
    Wednesday, January 16 From the data
    Gold closes above $700 for the first time ($760.00).
  4. 4
    Friday, January 18 From the data
    Gold closes above $800 for the first time ($835.00).
  5. 5
    Monday, January 21
    Gold peaks at $850 an ounce at the London afternoon fix. Source
    Gold: +1.8% that day · −20.8% a month later
  6. 6
    Tuesday, January 22 From the data
    Biggest one-day fall of the year: −13.2%.
  7. 7
    Friday, January 25 From the data
    Enters a bear market: 20% below its peak of $850.00 (January 21, 1980).
  8. 8
    Tuesday, March 18 From the data
    Bear market low: $481.50, 43.4% below the peak.
  9. 9
    Monday, September 22
    Iraq invades Iran, starting the Iran-Iraq War. Source
    Gold: +5.3% that day · −2.5% a month later
  10. 10
    Thursday, December 11 From the data
    Enters a bear market: 20% below its peak of $711.00 (September 23, 1980).

Biggest days of 1980

Best daysWorst days
Jan 3+13.3%Jan 22−13.2%
Jan 18+11.3%Mar 17−7.5%
Jan 16+11.1%Mar 26−7.3%
Feb 21+9.7%Jan 4−7.3%
Mar 19+9.4%Feb 20−7.1%

Volatility: 52.9% (annualised standard deviation of daily changes).

Month by month

MonthCloseChangeHighLow
Jan$653.00+27.5%$850.00$559.50
Feb$637.00−2.5%$710.50$606.00
Mar$494.50−22.4%$643.50$481.50
Apr$518.00+4.8%$554.00$485.75
May$535.50+3.4%$535.50$490.00
Jun$653.50+22.0%$653.50$552.50
Jul$614.25−6.0%$687.50$606.00
Aug$631.20+2.8%$645.25$605.00
Sep$666.75+5.6%$711.00$628.75
Oct$629.00−5.7%$690.00$629.00
Nov$619.75−1.5%$652.00$596.00
Dec$589.75−4.8%$635.50$558.00

Other Markets in 1980

Change over the calendar year.

MarketChangeYear-end
Gold Price+15.2%$589.75
Dow Jones Industrial Average in 1980+14.9%963.99
S&P 500 in 1980+25.8%135.76
Nasdaq Composite in 1980+33.9%202.34
Silver in 1980−51.9%$15.50
US 10-year Treasury yield in 1980+2.10 pp12.43%
1980198119821983198419851986198719881989

Gold Price in 1980: FAQ

How much did the gold price rise in 1980?

The gold price rose 15.2% in 1980, from $512.00 at the end of 1979 to $589.75. Its highest close was $850.00 on Jan 21 — a record that stood until January 3, 2008, and its lowest $481.50 on Mar 18. The biggest one-day fall was −13.2% on Jan 22 and the biggest rise +13.3% on Jan 3. Adjusted for inflation, it gained 2.4%.

What were the highest and lowest closes of the gold price in 1980?

Highest: $850.00 on January 21, 1980. Lowest: $481.50 on March 18, 1980. It closed higher on 125 of 252 trading days.

What happened to the gold price on September 22, 1980?

Iraq invades Iran, starting the Iran-Iraq War. The gold price rose 5.3% that day, and was −2.5% a month later.

Did the gold price reach a record high in 1980?

Yes — 7 record closing highs, the last at $850.00 on January 21, 1980. (Records counted from 1968, when the free market price began.)

Data: London PM fix (LBMA) from 1968 to Sep 2017, COMEX gold futures closes after that. Before 1968 the official US price: $20.67 until Oct 1933, $35 from 31 Jan 1934. Inflation: US CPI-U. Events marked "From the data" are found automatically from the closing prices; the others are researched, with the source linked. Not investment advice.

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APA 7
Corgano. (2026, October 31). Gold price in 1980. Corgano Gold Price. Retrieved October 31, 2026, from https://goldprice.corgano.com/market-history/gold/1980
MLA 9
“Gold Price in 1980.” Corgano Gold Price, goldprice.corgano.com/market-history/gold/1980. Accessed 31 Oct. 2026.
Chicago
Corgano. “Gold Price in 1980.” Corgano Gold Price. Accessed October 31, 2026. https://goldprice.corgano.com/market-history/gold/1980.
BibTeX
@misc{corgano2026goldpricein1980, author = {{Corgano}}, title = {Gold Price in 1980}, howpublished = {\url{https://goldprice.corgano.com/market-history/gold/1980}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-10-31}}
Link
Gold Price in 1980 — Corgano Gold Price: https://goldprice.corgano.com/market-history/gold/1980