Gold after Iran hostages (4 Nov 1979)
After Iran hostages on 4 Nov 1979, gold was 69.6% higher three months on and 59.4% higher twelve months on, measured from the Oct 1979 monthly average of $392 a troy ounce.
- Gold before
- $392
- Oct 1979
- Gold +3 months
- +69.6%
- Gold +12 months
- +59.4%
- Silver +12 months
- +12.0%
In context
U.S. embassy in Tehran seized; 52 Americans held for 444 days.
Over the same months silver was 112.0% higher three months on and 12.0% higher twelve months on.
Of the 10 geopolitical or monetary shocks on the chart with a full year after them, this ranks 2nd for gold twelve months on.
The market or central-bank moment before it on the chart: Volcker shock (6 Oct 1979).
The one after: Soviet Afghanistan (27 Dec 1979).
Monthly average prices in U.S. dollars per troy ounce (Kitco.com and the World Bank Pink Sheet), from the last full month before a period to its last full month; the record runs Feb 1971 to Oct 2026. What the record did, not a forecast. Source: jimmycarterlibrary.gov.
Updated Oct 2026 · record through Oct 2026