Gold during the Volcker years at the Fed (1979–1987)
During Paul Volcker's years as Fed chair (6 Aug 1979 to 11 Aug 1987), gold rose 52.9%, from $295 to $451 a troy ounce, comparing the monthly averages of Jul 1979 and Jul 1987; silver fell 16.5%.
- Gold
- +52.9%
- $295 → $451
- Silver
- -16.5%
- $9.10 → $7.60
- Gold high
- $675
- Jan 1980
- Gold low
- $295
- Jul 1979
In context
Of the 8 Fed chairs on the chart, Volcker's years rank 5th for gold.
Presidents during these years: Carter, Reagan.
Gold's monthly average ranged from $295 (Jul 1979) to $675 (Jan 1980).
Under G. William Miller, the chair before, gold rose 65.7%.
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.
Updated Oct 2026 · record through Oct 2026