Gold Standard: 150 Years of the Precious Metal’s Price

In JCK’s first 100 years, the metal’s price didn’t move much. But over the past 50, it’s been on something of a roller-coaster ride. For most of the 20th century, the price of gold bullion was set at $35 per ounce. In 1968, the London Gold Pool created a two-tiered system that let gold ­respond to supply and demand, and the metal has been on a wild ride ever since. In January 1980, geopolitical angst and rising oil prices pushed the price to a then-record $873 an ounce, more than double what it had been just two months prior. That now-legendary spike didn’t last long. By the end of 1981, the price had settled back at $400. In 2001, gold began a remarkable 12-year bull run, crossing the $1,000 ­threshold in 2009, and ­introducing jewelers to a whole new profit center—trade-ins. “When i

This content is exclusive to JCK Pro subscribers. Subscribe now to access this and much more with discount code GOPRO21 for $199 for an entire year of access (reg. $249).


Already a JCK Pro? Log in

A JCK Pro subscription is your all-access pass to people and resources on the
cutting edge of the retail jewelry industry, from the industry authority you
know and trust

Learn about the Perks of JCK Pro

Log Out

Are you sure you want to log out?

CancelLog out