Explore over a century of gold and silver price history with annual data, interactive charts, and year-by-year comparisons
Explore annual gold and silver values since 1900 (USD per troy ounce). USGS covers earlier years; Gold API provides newer averages. An incomplete year is marked YTD. Inflation-adjusted values are in 1998 USD.
Gold API · 2025-01-01 to 2025-12-31 · Annual observation
Annual history
Silver annual unit values · nominal USD / troy oz
Hover or tap anywhere on the chart to select an annual observation. Arrow keys also work. The year cards above update with your selection.
Compare two years
Compare annual values on the same basis.
Changes compare selected complete annual values. Different-source comparisons are indicative, not investment returns.
All annual values (127 years)
| Year | Nominal USD / oz | Annual change |
|---|---|---|
| 2026 YTD | $71.55 | — |
| 2025 | $40.16 | +42.15% |
| 2024 | $28.25 | +20.76% |
| 2023 | $23.40 | +7.51% |
| 2022 | $21.76 | — |
| 2021 | $25.22 | +22.69% |
| 2020 | $20.56 | +29.10% |
| 2019 | $15.92 | +1.19% |
| 2018 | $15.74 | -7.83% |
| 2017 | $17.08 | -0.36% |
| 2016 | $17.14 | +9.11% |
| 2015 | $15.71 | -17.75% |
| 2014 | $19.10 | -19.95% |
| 2013 | $23.86 | -23.30% |
| 2012 | $31.10 | -11.50% |
| 2011 | $35.15 | +75.47% |
| 2010 | $20.03 | +36.44% |
| 2009 | $14.68 | -2.07% |
| 2008 | $14.99 | +11.83% |
| 2007 | $13.41 | +15.55% |
| 2006 | $11.60 | +58.05% |
| 2005 | $7.34 | +9.77% |
| 2004 | $6.69 | +36.08% |
| 2003 | $4.91 | +6.04% |
| 2002 | $4.63 | +5.67% |
| 2001 | $4.39 | -12.42% |
| 2000 | $5.01 | -4.73% |
| 1999 | $5.26 | -5.06% |
| 1998 | $5.54 | +13.38% |
| 1997 | $4.88 | -5.99% |
| 1996 | $5.19 | +0.60% |
| 1995 | $5.16 | -2.35% |
| 1994 | $5.29 | +23.19% |
| 1993 | $4.29 | +8.66% |
| 1992 | $3.95 | -2.31% |
| 1991 | $4.04 | -16.13% |
| 1990 | $4.82 | -12.33% |
| 1989 | $5.50 | -15.77% |
| 1988 | $6.53 | -6.88% |
| 1987 | $7.01 | +28.14% |
| 1986 | $5.47 | -10.89% |
| 1985 | $6.14 | -24.57% |
| 1984 | $8.14 | -28.85% |
| 1983 | $11.44 | +43.90% |
| 1982 | $7.95 | -24.42% |
| 1981 | $10.52 | -49.01% |
| 1980 | $20.63 | +86.01% |
| 1979 | $11.09 | +105.41% |
| 1978 | $5.40 | +16.90% |
| 1977 | $4.62 | +6.15% |
| 1976 | $4.35 | -1.55% |
| 1975 | $4.42 | -6.14% |
| 1974 | $4.71 | +83.94% |
| 1973 | $2.56 | +52.40% |
| 1972 | $1.68 | +8.39% |
| 1971 | $1.55 | -12.44% |
| 1970 | $1.77 | -1.11% |
| 1969 | $1.79 | -16.35% |
| 1968 | $2.14 | +38.15% |
| 1967 | $1.55 | +20.00% |
| 1966 | $1.29 | 0.00% |
| 1965 | $1.29 | 0.00% |
| 1964 | $1.29 | +0.73% |
| 1963 | $1.28 | +17.71% |
| 1962 | $1.09 | +18.24% |
| 1961 | $0.92 | +1.02% |
| 1960 | $0.91 | 0.00% |
| 1959 | $0.91 | +2.45% |
| 1958 | $0.89 | -2.39% |
| 1957 | $0.91 | 0.00% |
| 1956 | $0.91 | +2.45% |
| 1955 | $0.89 | +4.76% |
| 1954 | $0.85 | 0.00% |
| 1953 | $0.85 | 0.00% |
| 1952 | $0.85 | -4.55% |
| 1951 | $0.89 | +20.17% |
| 1950 | $0.74 | +3.03% |
| 1949 | $0.72 | -2.94% |
| 1948 | $0.74 | +3.03% |
| 1947 | $0.72 | -10.12% |
| 1946 | $0.80 | +53.89% |
| 1945 | $0.52 | +15.17% |
| 1944 | $0.45 | 0.00% |
| 1943 | $0.45 | +18.85% |
| 1942 | $0.38 | +7.96% |
| 1941 | $0.35 | 0.00% |
| 1940 | $0.35 | -9.60% |
| 1939 | $0.39 | -9.42% |
| 1938 | $0.43 | -4.83% |
| 1937 | $0.45 | 0.00% |
| 1936 | $0.45 | -29.61% |
| 1935 | $0.64 | +33.77% |
| 1934 | $0.48 | +36.28% |
| 1933 | $0.35 | +25.56% |
| 1932 | $0.28 | -3.43% |
| 1931 | $0.29 | -23.61% |
| 1930 | $0.38 | -28.24% |
| 1929 | $0.53 | -8.60% |
| 1928 | $0.58 | +1.64% |
| 1927 | $0.57 | -8.04% |
| 1926 | $0.62 | -10.36% |
| 1925 | $0.69 | +3.26% |
| 1924 | $0.67 | +2.87% |
| 1923 | $0.65 | -4.57% |
| 1922 | $0.68 | +7.88% |
| 1921 | $0.63 | -38.11% |
| 1920 | $1.02 | -8.89% |
| 1919 | $1.12 | +14.29% |
| 1918 | $0.98 | +16.67% |
| 1917 | $0.84 | +25.58% |
| 1916 | $0.67 | +31.10% |
| 1915 | $0.51 | -8.89% |
| 1914 | $0.56 | -8.16% |
| 1913 | $0.61 | -2.00% |
| 1912 | $0.62 | +17.65% |
| 1911 | $0.53 | 0.00% |
| 1910 | $0.53 | 0.00% |
| 1909 | $0.53 | 0.00% |
| 1908 | $0.53 | -19.05% |
| 1907 | $0.65 | -4.55% |
| 1906 | $0.68 | +10.00% |
| 1905 | $0.62 | +5.26% |
| 1904 | $0.59 | +11.76% |
| 1903 | $0.53 | 0.00% |
| 1902 | $0.53 | -10.53% |
| 1901 | $0.59 | -5.00% |
| 1900 | $0.62 | — |
No matching year is available.
Sources, inflation adjustment & methodology
Data sources: U.S. Geological Survey (USGS), Data Series 140, supplies the earlier annual commodity unit values. Gold API supplies newer annual averages calculated from available weekday daily-average prices and a separately labelled incomplete-year YTD average. Because the methods differ, values spanning the source change should not be treated as a continuous series of identical spot-price averages. USGS source pages identify the original workbooks as Public Domain. Silver Dominion is not affiliated with or endorsed by USGS.
Nominal values are expressed in the dollars of each observation year. For USGS years, constant values come directly from the USGS column “Unit value (98$/t)”, which uses a CPI-based conversion with 1998 as the base year. They are not expressed in today’s dollars.
Conversion: USD per metric tonne × 31.1034768 ÷ 1,000,000 = USD per troy ounce. Source values are rounded, so displayed decimals do not imply additional source precision. The values may differ from other annual price averages or daily market prices. Missing cells remain missing; no estimates are inserted.
Highest annual value refers to the available annual series on the selected basis. It is not an intraday all-time high. Comparisons are changes between annual observations, not trading returns. The final year and its coverage are displayed explicitly.
- Gold · USGS source page · Original XLSX · 1900–2022
- Silver · USGS source page · Original XLSX · 1900–2021
USGS methodology · USGS copyrights and credits
Recent years: Gold API. The plugin calculates an arithmetic mean of available weekday daily-average USD prices, rather than a daily close or current spot quote. Full annual observations require January–December coverage and at least 95% of weekdays. The current year is explicitly YTD, through the last verified completed price day. No future months are estimated. The chart uses dashed segments at source changes and for YTD; annual changes and percentage comparisons are withheld across sources or when either observation is YTD. Highest annual value excludes YTD.
For recent inflation-adjusted values, Silver Dominion divides the price mean by the corresponding mean BLS CPI-U (CUUR0000SA0, not seasonally adjusted) and multiplies by 163.0 (1998 annual CPI, rounded to one decimal). Current-year real YTD stops at the last consecutively available completed CPI month and uses prices only through that same month. Its coverage can therefore end before nominal YTD. For completed years with missing monthly CPI, the published official BLS annual index (M13) is used when available. For 2025, BLS publishes an annual index of 321.943 based on 11 months; the missing October index is not estimated. This completes the real annual series without interpolating prices. If neither a full monthly set nor an official annual index exists, the value remains unavailable. Older real observations remain the original rounded USGS values.
Gold API · Commercial-use terms · Free plan · BLS CPI-U · BLS annual CPI table · 2025 annual-average methodology. CPI retrieved 2026-11-04T15:11:39+00:00. BLS.gov cannot vouch for the data or analyses derived from these data after the data have been retrieved from BLS.gov.
USGS files are checked every 30 days; Gold API and BLS are checked daily through WordPress cron. Failed checks retain verified history. The interface uses cached data; visits do not trigger provider requests. Gold API keys stay on the server and are excluded from pages and exports.
Understanding Historical Gold and Silver Prices
Examining historical gold and silver prices helps investors understand long-term market trends, major price cycles, and the changing role of precious metals in the global economy.
Gold and silver have experienced periods of inflation, financial crises, economic expansion, and shifting monetary policies. Annual historical data provides a broader perspective than short-term price movements and allows comparisons across different decades.
The Historical Price Explorer helps identify major turning points and examine how both metals have performed over time.
Gold and Silver Price History and Market Cycles
Gold prices have undergone significant changes over the past century. The end of the Bretton Woods system in the early 1970s marked a major turning point, allowing market forces to play a greater role in determining gold’s dollar price.
Since then, inflation, real interest rates, currency movements, central-bank policies, and investment demand have influenced its performance.
Explore these developments in our Gold Price History guide.
Silver shares gold’s monetary characteristics but also has substantial industrial demand from electronics, solar energy, electrical infrastructure, and manufacturing.
Its history includes dramatic price rallies around 1980 and 2011, followed by significant corrections. Annual price data helps distinguish long-term trends from temporary market peaks.
For recent developments, explore the Silver Price Chart.
Comparing Historical Prices and Inflation
Gold and silver do not always perform equally under the same economic conditions. Gold often attracts safe-haven demand, while silver is more sensitive to industrial activity and economic expectations.
The Gold Silver Ratio Chart provides another way to compare their relative value across different periods.
Inflation also matters when evaluating historical prices. A dollar in 1980 had significantly greater purchasing power than a dollar today, making nominal price comparisons potentially misleading.
Inflation-adjusted values offer a clearer perspective on long-term purchasing power and real investment performance.
Use the Gold & Silver Inflation Calculator to explore how precious metals investments could have performed relative to inflation.
Historical Price Data and Methodology
The Historical Price Explorer combines annual commodity statistics from the U.S. Geological Survey (USGS) with more recent gold and silver price averages calculated from Gold API historical observations.
USGS figures represent annual commodity unit values, while Gold API estimates use available weekday daily-average prices. Because these sources follow different methodologies, the results are not directly equivalent to annual spot-price averages.
The current incomplete year is marked YTD (Year to Date). Inflation-adjusted figures are expressed in constant 1998 U.S. dollars, using original USGS data and BLS CPI-U adjustments for more recent observations.
These historical estimates are intended for long-term research and market comparisons, not real-time trading decisions.
Frequently Asked Questions
Where can I find historical gold and silver prices by year?
The Historical Price Explorer lets you view annual gold and silver price data, compare specific years, and examine long-term precious metals market trends.
What sources are used for historical gold and silver prices?
The explorer combines historical commodity statistics from the U.S. Geological Survey (USGS) with more recent annual estimates calculated from Gold API observations. Source methodologies differ across periods.
Are historical gold and silver prices the same as spot prices?
Not always. USGS historical figures may represent annual commodity unit values rather than averages of daily spot prices. More recent estimates use available weekday daily-average observations.
Are historical gold and silver prices adjusted for inflation?
The explorer includes nominal and inflation-adjusted comparisons. Real values are expressed in constant 1998 U.S. dollars, allowing investors to compare purchasing power across different years.
Why are historical silver prices more volatile than gold?
Silver has a smaller market and greater exposure to industrial demand. Changes in economic activity, investment flows, and market sentiment can produce larger percentage price movements than in gold.
Can historical gold and silver prices predict future returns?
Historical prices help identify market cycles, long-term trends, and past investment performance. However, historical patterns cannot reliably predict future gold or silver prices or guarantee investment returns.