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Dow52,856+0.69%
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VIX16.68−3.64%

Gold Price in 1972

The gold price rose 48.8% in 1972, from $43.62 at the end of 1971 to $64.90. Its highest close was $70.00 on Aug 2 — a record that stood until February 14, 1973, and its lowest $44.00 on Jan 3. The biggest one-day fall was −6.5% on Sep 18 and the biggest rise +5.8% on May 17. Adjusted for inflation, it gained 43.9%.

Change in 1972
+48.8%
$43.62 → $64.90
High
$70.00
Aug 2
Low
$44.00
Jan 3
After inflation
+43.9%
US CPI
Up days
129 of 254
longest run 8 up, 7 down
Record highs
37
closing records

Gold Price, daily closes 1972

Numbers mark the events below
$46$57$68previous recordJanFebMarAprMayJunJulAugSepOctNovDec1Jan 3: sets the first of 37 record closing highs this year, at $44.00.2May 1: closes above $50 for the first time ($50.35).3May 16: CME's International Monetary Market begins trading foreign currency futures.4May 17: Biggest one-day rise of the year: +5.8%.5Jun 6: closes above $60 for the first time ($61.50).6Jun 23: Britain announces it will let the pound float.7Aug 2: Last record close of the year: $70.00. closes above $70 for the first time ($70.00).8Sep 18: Biggest one-day fall of the year: −6.5%.9Nov 7: Richard Nixon is re-elected US president.

Key Events in 1972

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

  1. 1
    Monday, January 3 From the data
    sets the first of 37 record closing highs this year, at $44.00.
  2. 2
    Monday, May 1 From the data
    closes above $50 for the first time ($50.35).
  3. 3
    Tuesday, May 16
    CME's International Monetary Market begins trading foreign currency futures. Source
    Gold: +2.8% that day · +15.6% a month later
  4. 4
    Wednesday, May 17 From the data
    Biggest one-day rise of the year: +5.8%.
  5. 5
    Tuesday, June 6 From the data
    closes above $60 for the first time ($61.50).
  6. 6
    Friday, June 23
    Britain announces it will let the pound float. Source
    Gold: +2.2% that day · +5.3% a month later
  7. 7
    Wednesday, August 2 From the data
    Last record close of the year: $70.00. closes above $70 for the first time ($70.00).
  8. 8
    Monday, September 18 From the data
    Biggest one-day fall of the year: −6.5%.
  9. 9
    Tuesday, November 7
    Richard Nixon is re-elected US president. Source
    Gold: −0.3% that day · −1.5% a month later

Biggest days of 1972

Best daysWorst days
May 17+5.8%Sep 18−6.5%
Jun 7+5.4%Jun 9−3.1%
Sep 19+4.9%Feb 3−2.5%
Jun 6+3.4%Feb 4−2.1%
May 9+3.1%Jun 12−2.1%

Volatility: 18.2% (annualised standard deviation of daily changes).

Month by month

MonthCloseChangeHighLow
Jan$47.15+8.1%$47.35$44.00
Feb$48.20+2.2%$49.25$47.00
Mar$48.38+0.4%$48.46$48.02
Apr$49.60+2.5%$49.60$48.29
May$59.45+19.9%$59.45$50.35
Jun$64.65+8.7%$64.85$59.23
Jul$68.30+5.6%$68.30$64.85
Aug$66.88−2.1%$70.00$65.15
Sep$64.20−4.0%$67.25$61.25
Oct$64.39+0.3%$65.60$64.10
Nov$63.60−1.2%$64.15$60.35
Dec$64.90+2.0%$65.40$62.90

Other Markets in 1972

Change over the calendar year.

MarketChangeYear-end
Gold Price+48.8%$64.90
Dow Jones Industrial Average in 1972+14.6%1,020.02
S&P 500 in 1972+15.6%118.05
Nasdaq Composite in 1972+17.2%133.73
Silver in 1972+45.6%$2.00
US 10-year Treasury yield in 1972+0.52 pp6.41%
1970197119721973197419751976197719781979

Gold Price in 1972: FAQ

How much did the gold price rise in 1972?

The gold price rose 48.8% in 1972, from $43.62 at the end of 1971 to $64.90. Its highest close was $70.00 on Aug 2 — a record that stood until February 14, 1973, and its lowest $44.00 on Jan 3. The biggest one-day fall was −6.5% on Sep 18 and the biggest rise +5.8% on May 17. Adjusted for inflation, it gained 43.9%.

What were the highest and lowest closes of the gold price in 1972?

Highest: $70.00 on August 2, 1972. Lowest: $44.00 on January 3, 1972. It closed higher on 129 of 254 trading days.

What happened to the gold price on May 16, 1972?

CME's International Monetary Market begins trading foreign currency futures. The gold price rose 2.8% that day, and was +15.6% a month later.

Did the gold price reach a record high in 1972?

Yes — 37 record closing highs, the last at $70.00 on August 2, 1972. (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.