Having quadrupled in the first years of the float, gold pulled back hard through 1975 and into 1976. A US recession had eased inflation, and newly legal American gold ownership — permitted from the last day of 1974 — produced a "buy the rumor, sell the news" slump rather than the boom many expected. The correction shook out weak hands before the metal's final, frenzied run to the 1980 peak. It is a classic example of the volatility that defines the free-float era.
Gold Price History · The Free-Float Era
1975
The Mid-Decade Pause
After its first surge, gold corrected sharply — a reminder that even great bull markets don’t move in straight lines.
- Average price
- $161/oz
- In 2025 dollars
- $963/oz
- Change on the year
- +1.1%
- After inflation
- −7.4%
1975 in context · real value, 1955–1995
What would $10,000 of gold in 1975 be worth today?
Run the numbers across gold, stocks, housing, and bonds — adjusted for inflation.
Calculate 1975 →How gold did in 1975
Value at year-end of $10,000 invested on 1 January 1975.
Gold $10,111 +1.1%
S&P 500 (total return) $13,700 +37.0%
US housing $10,842 +8.4%
Inflation (CPI) $10,913 +9.1%
Annual-average basis. Gold: Officer & Williamson; S&P 500 & Treasuries: Damodaran (NYU); housing: Shiller; CPI: BLS. Methodology →
Related years
Sources. Gold price: Officer & Williamson, The Price of Gold, 1257–Present (annual average); inflation adjustment by US CPI (BLS / Officer & Williamson). Asset comparison from the calculator dataset. Figures are annual averages. Full methodology →