What was the gold price before Off the gold standard?

Gold's monthly average was $41.00 a troy ounce in Jul 1971, the month before.

Gold after Off the gold standard (15 Aug 1971)

Q: What did silver do after Off the gold standard?

After Off the gold standard, silver was 18.8% lower three months on and 12.5% higher twelve months on, measured from the Jul 1971 monthly average.

After Off the gold standard on 15 Aug 1971, gold was 4.9% higher three months on and 63.4% higher twelve months on, measured from the Jul 1971 monthly average of $41.00 a troy ounce.

Gold before: $41.00; Jul 1971
Gold +3 months: +4.9%
Gold +12 months: +63.4%
Silver +12 months: +12.5%

In context

Nixon shock: the U.S. suspended dollar convertibility into gold, ending the Bretton Woods gold peg (Sunday evening address).

Over the same months silver was 18.8% lower three months on and 12.5% higher twelve months on.

Of the 10 geopolitical or monetary shocks on the chart with a full year after them, this ranks 1st for gold twelve months on.

The one after: OPEC oil embargo (17 Oct 1973).

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: history.state.gov.

Open this in the chart

Updated Oct 2026 · record through Oct 2026