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Dow52,856+0.69%
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VIX16.68−3.64%

Gold Price in 1998

The gold price fell 0.8% in 1998, from $290.20 at the end of 1997 to $287.80. Its highest close was $313.15 on Apr 24, and its lowest $273.40 on Aug 28. The biggest one-day fall was −2.0% on Sep 28 and the biggest rise +4.0% on Jan 26. Adjusted for inflation, it lost 2.4%.

Change in 1998
−0.8%
$290.20 → $287.80
High
$313.15
Apr 24
Low
$273.40
Aug 28
After inflation
−2.4%
US CPI
Up days
110 of 257
longest run 4 up, 5 down
Below record
-66.1%
at the end of 1998

Gold Price, daily closes 1998

Numbers mark the events below
$277$293$309JanFebMarAprMayJunJulAugSepOctNovDec1Jan 26: Biggest one-day rise of the year: +4.0%.2Jun 17: US and Japan jointly intervene to buy yen, the first US yen-support action in over six years.3Aug 17: Russia devalues the ruble, defaults on domestic debt and declares a moratorium on foreign debt payments.4Sep 28: Biggest one-day fall of the year: −2.0%.

Key Events in 1998

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

  1. 1
    Monday, January 26 From the data
    Biggest one-day rise of the year: +4.0%.
  2. 2
    Wednesday, June 17
    US and Japan jointly intervene to buy yen, the first US yen-support action in over six years. Source
    Gold: +1.4% that day · +2.1% a month later
  3. 3
    Monday, August 17
    Russia devalues the ruble, defaults on domestic debt and declares a moratorium on foreign debt payments. Source
    Gold: −0.1% that day · +2.0% a month later
  4. 4
    Monday, September 28 From the data
    Biggest one-day fall of the year: −2.0%.

Biggest days of 1998

Best daysWorst days
Jan 26+4.0%Sep 28−2.0%
Jan 16+2.7%Aug 28−1.8%
Mar 24+2.5%May 27−1.7%
Sep 10+2.5%Jun 1−1.7%
Sep 4+2.1%Aug 27−1.6%

Volatility: 13.0% (annualised standard deviation of daily changes).

Month by month

MonthCloseChangeHighLow
Jan$304.85+5.0%$304.85$278.70
Feb$297.40−2.4%$301.50$291.40
Mar$301.00+1.2%$301.95$290.40
Apr$310.70+3.2%$313.15$300.30
May$293.60−5.5%$306.90$292.75
Jun$296.30+0.9%$297.75$285.85
Jul$288.85−2.5%$296.80$288.85
Aug$273.40−5.3%$287.90$273.40
Sep$293.85+7.5%$298.10$279.00
Oct$292.30−0.5%$300.80$291.45
Nov$294.70+0.8%$297.10$288.60
Dec$287.80−2.3%$295.55$285.80

Other Markets in 1998

Change over the calendar year.

MarketChangeYear-end
Gold Price−0.8%$287.80
Dow Jones Industrial Average in 1998+16.1%9,181.43
S&P 500 in 1998+26.7%1,229.23
Nasdaq Composite in 1998+39.6%2,192.69
Russell 2000 in 1998−3.4%421.96
Nikkei 225 in 1998−9.3%13,842.17
Silver in 1998−16.2%$5.01
WTI crude oil in 1998−31.2%$12.14
Brent crude oil in 1998−33.5%$10.54
US 10-year Treasury yield in 1998−1.10 pp4.65%
1990199119921993199419951996199719981999

Gold Price in 1998: FAQ

How much did the gold price fall in 1998?

The gold price fell 0.8% in 1998, from $290.20 at the end of 1997 to $287.80. Its highest close was $313.15 on Apr 24, and its lowest $273.40 on Aug 28. The biggest one-day fall was −2.0% on Sep 28 and the biggest rise +4.0% on Jan 26. Adjusted for inflation, it lost 2.4%.

What were the highest and lowest closes of the gold price in 1998?

Highest: $313.15 on April 24, 1998. Lowest: $273.40 on August 28, 1998. It closed higher on 110 of 257 trading days.

What happened to the gold price on June 17, 1998?

US and Japan jointly intervene to buy yen, the first US yen-support action in over six years. The gold price rose 1.4% that day, and was +2.1% 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.