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Gold Price in 1997

The gold price fell 21.4% in 1997, from $369.25 at the end of 1996 to $290.20. Its highest close was $366.55 on Jan 2, and its lowest $283.00 on Dec 12. The biggest one-day fall was −2.4% on Jul 4 and the biggest rise +2.4% on Feb 21. Adjusted for inflation, it lost 22.7%.

Change in 1997
−21.4%
$369.25 → $290.20
High
$366.55
Jan 2
Low
$283.00
Dec 12
After inflation
−22.7%
US CPI
Up days
115 of 256
longest run 7 up, 5 down
Below record
-65.9%
at the end of 1997

Gold Price, daily closes 1997

Numbers mark the events below
$291$325$359JanFebMarAprMayJunJulAugSepOctNovDec1Feb 21: Biggest one-day rise of the year: +2.4%.2Jul 2: Thailand floats the baht, starting the Asian financial crisis.3Jul 4: Enters a bear market: 20% below its peak of $414.80 (February 5, 1996). Biggest one-day fall of the year: −2.4%.4Oct 23: Hong Kong Monetary Authority raises overnight rates to defend the dollar peg as the Hang Seng slumps.

Key Events in 1997

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

  1. 1
    Friday, February 21 From the data
    Biggest one-day rise of the year: +2.4%.
  2. 2
    Wednesday, July 2
    Thailand floats the baht, starting the Asian financial crisis. Source
    Gold: −0.5% that day · −1.8% a month later
  3. 3
    Friday, July 4 From the data
    Enters a bear market: 20% below its peak of $414.80 (February 5, 1996). Biggest one-day fall of the year: −2.4%.
  4. 4
    Thursday, October 23
    Hong Kong Monetary Authority raises overnight rates to defend the dollar peg as the Hang Seng slumps. Source
    Gold: +0.6% that day · −6.1% a month later

Biggest days of 1997

Best daysWorst days
Feb 21+2.4%Jul 4−2.4%
Sep 30+1.5%Oct 24−2.4%
Oct 1+1.5%Nov 14−2.1%
Jul 18+1.5%Jul 7−2.0%
Feb 27+1.5%Oct 31−1.7%

Volatility: 11.0% (annualised standard deviation of daily changes).

Month by month

MonthCloseChangeHighLow
Jan$345.50−6.4%$366.55$345.50
Feb$358.60+3.8%$360.00$337.70
Mar$348.15−2.9%$362.15$346.05
Apr$340.15−2.3%$351.05$339.25
May$345.60+1.6%$349.10$339.25
Jun$334.55−3.2%$344.25$334.55
Jul$326.35−2.5%$333.70$317.30
Aug$325.35−0.3%$327.70$319.35
Sep$332.10+2.1%$332.10$320.45
Oct$311.40−6.2%$337.15$311.40
Nov$296.80−4.7%$315.35$296.00
Dec$290.20−2.2%$295.10$283.00

Other Markets in 1997

Change over the calendar year.

MarketChangeYear-end
Gold Price−21.4%$290.20
Dow Jones Industrial Average in 1997+22.6%7,908.24
S&P 500 in 1997+31.0%970.43
Nasdaq Composite in 1997+21.6%1,570.35
Russell 2000 in 1997+20.5%437.02
Nikkei 225 in 1997−21.2%15,259.00
Silver in 1997+25.4%$5.98
WTI crude oil in 1997−31.9%$17.65
Brent crude oil in 1997−33.6%$15.86
US 10-year Treasury yield in 1997−0.68 pp5.75%
1990199119921993199419951996199719981999

Gold Price in 1997: FAQ

How much did the gold price fall in 1997?

The gold price fell 21.4% in 1997, from $369.25 at the end of 1996 to $290.20. Its highest close was $366.55 on Jan 2, and its lowest $283.00 on Dec 12. The biggest one-day fall was −2.4% on Jul 4 and the biggest rise +2.4% on Feb 21. Adjusted for inflation, it lost 22.7%.

What were the highest and lowest closes of the gold price in 1997?

Highest: $366.55 on January 2, 1997. Lowest: $283.00 on December 12, 1997. It closed higher on 115 of 256 trading days.

What happened to the gold price on October 23, 1997?

Hong Kong Monetary Authority raises overnight rates to defend the dollar peg as the Hang Seng slumps. The gold price rose 0.6% that day, and was −6.1% 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.