Gold averaged $612.27 an ounce in 1980, rising 15.2% over the year. Gold hit a then-record of $850 an ounce on January 21, 1980, at the height of the inflation scare, before Fed rate hikes sent it sharply lower.
| Month | Average | High | Low |
|---|---|---|---|
| January | $668.21 | $850.00 | $512.00 |
| February | $665.32 | $710.50 | $606.00 |
| March | $553.58 | $643.50 | $481.50 |
| April | $514.53 | $554.00 | $485.75 |
| May | $513.64 | $535.50 | $490.00 |
| June | $600.72 | $653.50 | $552.50 |
| July | $644.28 | $687.50 | $606.00 |
| August | $627.72 | $645.25 | $605.00 |
| September | $673.63 | $711.00 | $628.75 |
| October | $661.15 | $690.00 | $629.00 |
| November | $623.46 | $652.00 | $596.00 |
| December | $596.47 | $635.00 | $558.00 |
Gold averaged $612.27 per troy ounce in 1980. It opened the year at $512.00 and closed at $589.75.
Gold's highest daily price in 1980 was $850.00 on January 21; its lowest was $481.50 on March 18.
Adjusted for US consumer price inflation, 1980's average gold price of $612.27 equals about $2,483 in today's dollars.
At 1980's average price, $1,000 bought about 1.63 ounces of gold, worth $6,851 at today's price of $4,194.40.