What was the gold price before Soviet Afghanistan?

Gold's monthly average was $392 a troy ounce in Nov 1979, the month before.

Gold after Soviet Afghanistan (27 Dec 1979)

Q: What did silver do after Soviet Afghanistan?

After Soviet Afghanistan, silver was 47.9% higher three months on and 1.2% lower twelve months on, measured from the Nov 1979 monthly average.

After Soviet Afghanistan on 27 Dec 1979, gold was 41.3% higher three months on and 37.2% higher twelve months on, measured from the Nov 1979 monthly average of $392 a troy ounce.

Gold before: $392; Nov 1979
Gold +3 months: +41.3%
Gold +12 months: +37.2%
Silver +12 months: -1.2%

In context

Soviet forces took control of Kabul at the end of December 1979.

Over the same months silver was 47.9% higher three months on and 1.2% lower twelve months on.

Of the 10 geopolitical or monetary shocks on the chart with a full year after them, this ranks 4th for gold twelve months on.

The geopolitical or monetary shock before it on the chart: Iran hostages (4 Nov 1979).

The one after: Hunt silver squeeze (18 Jan 1980).

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.

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Updated Oct 2026 · record through Oct 2026