Gold after LTCM rescue (23 Sep 1998)
After LTCM rescue on 23 Sep 1998, gold was 2.8% higher three months on and 6.7% lower twelve months on, measured from the Aug 1998 monthly average of $284 a troy ounce.
- Gold before
- $284
- Aug 1998
- Gold +3 months
- +2.8%
- Gold +12 months
- -6.7%
- Silver +12 months
- +0.0%
In context
Fourteen banks and brokerage firms put $3.6 billion into the hedge fund Long-Term Capital Management in a rescue the New York Fed convened.
Over the same months silver was 5.8% lower three months on and 0.0% higher twelve months on.
Of the 29 market or central-bank moments on the chart with a full year after them, this ranks 24th for gold twelve months on.
The market or central-bank moment before it on the chart: Asian financial crisis (2 Jul 1997).
The one after: Kosovo (24 Mar 1999).
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: federalreservehistory.org.
Updated Oct 2026 · record through Oct 2026