Gold Price History · The Free-Float Era
1994 in context · real value, 1974–2014
In 1994, gold averaged $384 an ounce — about $834 in today's money. That was up 6.7% on the year in nominal terms (+4.1% after inflation). In the free-float era the price is set entirely by markets, so each year carries its own distinct story of inflation, crisis, and confidence in paper money.
To see 1994 in the full sweep of the gold price, explore the 768-year ribbon, or find out what a 1994 gold investment would be worth today on the gold calculator.
Run the numbers across gold, stocks, housing, and bonds — adjusted for inflation.
Calculate 1994 →Value at year-end of $10,000 invested on 1 January 1994.
Annual-average basis. Gold: Officer & Williamson; S&P 500 & Treasuries: Damodaran (NYU); housing: Shiller; CPI: BLS. Methodology →
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 →