Ads
related to: gold price 1970 to 1980 dollars value
Search results
Results From The WOW.Com Content Network
Gold prices (US$ per troy ounce), in nominal US$ and inflation adjusted US$ from 1914 onward. Price of gold 1915–2022 Gold price history in 1960–2014 Gold price per gram between Jan 1971 and Jan 2012. The graph shows nominal price in US dollars, the price in 1971 and 2011 US dollars.
English: This chart shows the nominal price of gold along with the price in 1971 and 2011 dollars (adjusted based on the consumer price index). The historical gold price was obtained from www.igolder.com; CPI was obtained from www.rateinflation.com. The data is in section Chart Data.
The United States weaned itself off the gold standard in the 1970s, allowing the price of gold to float. The price of gold went from a set exchange rate of $42.22 per troy ounce in 1973 to almost $200 per ounce in 1976. [9] [verification needed] Price of gold 1915-2022
Most investors and others who follow the gold market are aware that gold peaked in January 1980 at $850 oz.
The Nixon shock was the effect of a series of economic measures, including wage and price freezes, surcharges on imports, and the unilateral cancellation of the direct international convertibility of the United States dollar to gold, taken by United States president Richard Nixon on 15 August 1971 in response to increasing inflation.
The price of gold, as denominated in US dollars, was stable until the collapse of the Bretton Woods system in the mid-1970s. The Bretton Woods system of monetary management established the rules for commercial relations among 44 countries, including the United States, Canada, Western European countries, and Australia.