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Gold Price in 1970

The gold price rose 6.2% in 1970, from $35.20 at the end of 1969 to $37.38. Its highest close was $39.01 on Oct 27, and its lowest $34.75 on Jan 16. The biggest one-day fall was −2.4% on Oct 30 and the biggest rise +1.2% on Oct 23. Adjusted for inflation, it gained 0.6%.

Change in 1970
+6.2%
$35.20 → $37.38
High
$39.01
Oct 27
Low
$34.75
Jan 16
After inflation
+0.6%
US CPI
Up days
118 of 254
longest run 10 up, 10 down
Below record
-14.7%
at the end of 1970

Gold Price, daily closes 1970

Numbers mark the events below
$35$37$39JanFebMarAprMayJunJulAugSepOctNovDec2Jan 16: Bear market low: $34.75, 20.7% below the peak.3Oct 23: Biggest one-day rise of the year: +1.2%.4Oct 30: Biggest one-day fall of the year: −2.4%.

Key Events in 1970

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

  1. 1
    Thursday, January 1
    IMF makes the first allocation of Special Drawing Rights. Source
    Gold: −0.3% next trading day (Jan 2) · −0.6% a month later
  2. 2
    Friday, January 16 From the data
    Bear market low: $34.75, 20.7% below the peak.
  3. 3
    Friday, October 23 From the data
    Biggest one-day rise of the year: +1.2%.
  4. 4
    Friday, October 30 From the data
    Biggest one-day fall of the year: −2.4%.

Biggest days of 1970

Best daysWorst days
Oct 23+1.2%Oct 30−2.4%
Oct 26+1.2%Oct 29−1.3%
Oct 5+1.1%Nov 5−1.2%
Nov 2+1.1%Dec 23−0.9%
Apr 14+1.0%Oct 28−0.9%

Volatility: 5.8% (annualised standard deviation of daily changes).

Month by month

MonthCloseChangeHighLow
Jan$34.99−0.6%$35.17$34.75
Feb$35.02+0.1%$35.02$34.95
Mar$35.30+0.8%$35.31$34.95
Apr$35.85+1.6%$35.95$35.28
May$35.45−1.1%$36.23$35.45
Jun$35.49+0.1%$35.65$35.12
Jul$35.30−0.5%$35.49$35.27
Aug$35.80+1.4%$35.80$35.23
Sep$36.40+1.7%$36.40$35.92
Oct$37.25+2.3%$39.01$36.33
Nov$37.54+0.8%$37.67$36.75
Dec$37.38−0.4%$37.67$37.10

Other Markets in 1970

Change over the calendar year.

MarketChangeYear-end
Gold Price+6.2%$37.38
Dow Jones Industrial Average in 1970+4.8%838.92
S&P 500 in 1970+0.1%92.15
Silver in 1970−8.8%$1.63
US 10-year Treasury yield in 1970−1.38 pp6.50%
1970197119721973197419751976197719781979

Gold Price in 1970: FAQ

How much did the gold price rise in 1970?

The gold price rose 6.2% in 1970, from $35.20 at the end of 1969 to $37.38. Its highest close was $39.01 on Oct 27, and its lowest $34.75 on Jan 16. The biggest one-day fall was −2.4% on Oct 30 and the biggest rise +1.2% on Oct 23. Adjusted for inflation, it gained 0.6%.

What were the highest and lowest closes of the gold price in 1970?

Highest: $39.01 on October 27, 1970. Lowest: $34.75 on January 16, 1970. It closed higher on 118 of 254 trading days.

What happened to the gold price on January 1, 1970?

IMF makes the first allocation of Special Drawing Rights. The gold price fell 0.3% on the next trading day (January 2, 1970), and was −0.6% a month later.

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.