How much did an ounce of gold cost?
An ounce of gold cost $384.93 in 1990 and $2,388 in 2024: about 6.2 times as much.
Over the same years, prices in general (US inflation, measured by the consumer price index, CPI) rose about 2.4 times. That makes $384.93 in 1990 worth about $924 in 2024 money. So it got more expensive even after inflation: about 158% more, in real terms, than in 1990.
In the years listed, the highest price was $2,388 in 2024 and the lowest $280.10 in 2000. The biggest change between two listed years came between 2005 and 2010, when it went up 175%, from $446.20 to $1,228.
Gold: price by year
| Year | Price | In 2024 dollars |
|---|---|---|
| 1990 | $384.93 | $924 |
| 1995 | $385.50 | $794 |
| 2000 | $280.10 | $510 |
| 2005 | $446.20 | $717 |
| 2010 | $1,228 | $1,770 |
| 2015 | $1,163 | $1,540 |
| 2020 | $1,774 | $2,150 |
| 2024 | $2,388 | $2,390 |
"In 2024 dollars" adjusts each amount for inflation with the CPI, so the years can be compared fairly. How this works.
Where the numbers come from
The yearly average price from the US Geological Survey's Minerals Yearbook. The latest year published is 2024.
Source: U.S. Geological Survey: Minerals Yearbook, Gold, Table 1 Salient Gold Statistics (several editions) + Mineral Commodity Summaries 2026: Gold. View the source.
Think you'd have guessed it? Play today's Daily 5