How Much Was the Price of Gold in 1990?

Gold has long been valued for its stability and value. Understanding its historical pricing, particularly in 1990, provides insight into its role within the broader financial landscape. Economic conditions and geopolitical events influence its price, making historical data valuable for understanding market dynamics.

Gold Price Overview in 1990

In 1990, the average price of gold was approximately $383.50 per troy ounce. Throughout the year, gold experienced fluctuations, reaching a yearly high of $427.50 on February 5th.

The price saw a low point of $349.80 on June 14th. By the end of 1990, the closing price was around $396.20.

Key Influences on Gold Price in 1990

Several factors influenced gold prices in 1990, reflecting its role as a safe-haven asset during periods of uncertainty. A notable geopolitical event was the Iraqi invasion of Kuwait in August 1990, which directly led to the Gulf War. This conflict caused a significant spike in gold prices, as investors sought to protect their wealth amid rising global tensions and concerns over oil supplies. Gold prices rose from approximately $384 per ounce in July 1990 to a peak of around $416 per ounce in October 1990 following the invasion.

The broader economic conditions also played a part. The United States experienced a recession beginning in mid-1990, which lasted until March 1991. While this recession was not particularly severe, it contributed to an environment where gold, often seen as a hedge against economic instability, could maintain its value. Additionally, the inflation rate in the U.S. in 1990 was 5.40%, which could have encouraged some investment in gold as a safeguard against purchasing power erosion.

Accessing Historical Gold Price Data

For those interested in exploring historical gold price data for 1990 or other periods, several reliable sources are available. Financial data websites and specialized precious metals sites often provide extensive historical charts and downloadable data. These platforms typically offer daily, monthly, and annual average prices, often denominated in U.S. dollars per troy ounce.

Organizations like the London Bullion Market Association (LBMA) are primary sources for benchmark gold prices, providing historical data that can be licensed for various uses. Other sources include governmental geological surveys, which may publish historical commodity prices, and central bank archives, which can offer insights into monetary policies that influenced gold. When reviewing data, it is important to note the source and any disclaimers regarding data accuracy or completeness.