CorganoGold Price
Market open
Gold4,113.50−0.62%Silver57.07−1.52%Platinum1,604.98−1.55%Palladium1,072.73−1.92%
Gold/Silver72.08
DXY101.72−0.06%
US10Y5.15%+0.57%
WTI98.17+1.05%
S&P 5007,757+0.58%
Dow52,856+0.69%
Bitcoin83,440−0.70%
VIX16.68−3.64%

Gold Price in 1988

The gold price fell 15.3% in 1988, from $484.10 at the end of 1987 to $410.25. Its highest close was $483.90 on Jan 8, and its lowest $395.30 on Sep 26. The biggest one-day fall was −2.3% on Sep 12 and the biggest rise +2.4% on Jun 3. Adjusted for inflation, it lost 18.8%.

Change in 1988
−15.3%
$484.10 → $410.25
High
$483.90
Jan 8
Low
$395.30
Sep 26
After inflation
−18.8%
US CPI
Up days
119 of 253
longest run 6 up, 5 down
Below record
-51.7%
at the end of 1988

Gold Price, daily closes 1988

Numbers mark the events below
$404$440$476JanFebMarAprMayJunJulAugSepOctNovDec1Jun 3: Biggest one-day rise of the year: +2.4%.2Sep 12: Biggest one-day fall of the year: −2.3%.3Sep 22: Enters a bear market: 20% below its peak of $499.75 (December 14, 1987).4Nov 8: George H. W. Bush is elected US president.

Key Events in 1988

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

  1. 1
    Friday, June 3 From the data
    Biggest one-day rise of the year: +2.4%.
  2. 2
    Monday, September 12 From the data
    Biggest one-day fall of the year: −2.3%.
  3. 3
    Thursday, September 22 From the data
    Enters a bear market: 20% below its peak of $499.75 (December 14, 1987).
  4. 4
    Tuesday, November 8
    George H. W. Bush is elected US president. Source
    Gold: −0.5% that day · +1.7% a month later

Biggest days of 1988

Best daysWorst days
Jun 3+2.4%Sep 12−2.3%
Oct 6+2.1%Jun 29−2.3%
Nov 3+2.1%Feb 3−2.3%
Jul 20+2.0%Sep 21−2.3%
Mar 21+1.4%Jun 13−1.9%

Volatility: 11.9% (annualised standard deviation of daily changes).

Month by month

MonthCloseChangeHighLow
Jan$458.00−5.4%$483.90$458.00
Feb$426.15−7.0%$455.90$426.15
Mar$456.95+7.2%$456.95$428.90
Apr$449.00−1.7%$458.00$447.00
May$455.50+1.4%$457.90$442.80
Jun$436.55−4.2%$464.70$433.55
Jul$436.80+0.1%$444.80$431.20
Aug$427.75−2.1%$434.60$425.80
Sep$396.70−7.3%$430.40$395.30
Oct$412.40+4.0%$413.00$395.45
Nov$422.60+2.5%$424.25$410.90
Dec$410.25−2.9%$429.00$410.25

Other Markets in 1988

Change over the calendar year.

MarketChangeYear-end
Gold Price−15.3%$410.25
Dow Jones Industrial Average in 1988+11.8%2,168.57
S&P 500 in 1988+12.4%277.72
Nasdaq Composite in 1988+15.4%381.40
Russell 2000 in 1988+22.4%147.37
Nikkei 225 in 1988+39.9%30,159.00
Silver in 1988−9.7%$6.05
WTI crude oil in 1988+2.3%$17.12
Brent crude oil in 1988−7.8%$16.23
US 10-year Treasury yield in 1988+0.31 pp9.14%
1980198119821983198419851986198719881989

Gold Price in 1988: FAQ

How much did the gold price fall in 1988?

The gold price fell 15.3% in 1988, from $484.10 at the end of 1987 to $410.25. Its highest close was $483.90 on Jan 8, and its lowest $395.30 on Sep 26. The biggest one-day fall was −2.3% on Sep 12 and the biggest rise +2.4% on Jun 3. Adjusted for inflation, it lost 18.8%.

What were the highest and lowest closes of the gold price in 1988?

Highest: $483.90 on January 8, 1988. Lowest: $395.30 on September 26, 1988. It closed higher on 119 of 253 trading days.

What happened to the gold price on November 8, 1988?

George H. W. Bush is elected US president. The gold price fell 0.5% that day, and was +1.7% 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.