Gold averaged $306.90 an ounce in 1979, rising 126.5% over the year. Soaring inflation, the Iranian revolution and the Soviet invasion of Afghanistan in December pushed gold up dramatically.
| Month | Average | High | Low |
|---|---|---|---|
| January | $227.22 | $236.10 | $216.85 |
| February | $245.67 | $252.35 | $229.35 |
| March | $242.05 | $248.80 | $238.15 |
| April | $238.66 | $245.30 | $231.90 |
| May | $257.77 | $274.60 | $246.30 |
| June | $279.07 | $283.85 | $272.90 |
| July | $294.69 | $305.80 | $281.35 |
| August | $301.42 | $318.95 | $282.70 |
| September | $355.12 | $397.25 | $322.90 |
| October | $391.66 | $426.00 | $372.00 |
| November | $391.99 | $415.65 | $372.80 |
| December | $461.21 | $512.00 | $426.40 |
Gold averaged $306.90 per troy ounce in 1979. It opened the year at $226.00 and closed at $512.00.
Gold's highest daily price in 1979 was $512.00 on December 28; its lowest was $216.85 on January 15.
Adjusted for US consumer price inflation, 1979's average gold price of $306.90 equals about $1,413 in today's dollars.
At 1979's average price, $1,000 bought about 3.26 ounces of gold, worth $13,667 at today's price of $4,194.40.