{"record":{"first":"1971-02","last":"2026-10","rows":669,"sha256":"55516ea18028341b"},"pages":[{"path":"/gold/presidents/nixon","title":"How gold performed under Richard Nixon (1969–1974)","answer":"Under Richard Nixon (20 Jan 1969 to 9 Aug 1974), gold rose 276.3%, from $38.00 to $143 a troy ounce, comparing the monthly averages of Jan 1971 and Jul 1974; silver rose 175.0%.","stats":[{"label":"Gold","value":"+276.3%","note":"$38.00 → $143"},{"label":"Silver","value":"+175.0%","note":"$1.60 → $4.40"},{"label":"Gold high","value":"$172","note":"Apr 1974"},{"label":"Gold low","value":"$39.00","note":"Feb 1971"}]},{"path":"/gold/presidents/ford","title":"How gold performed under Gerald Ford (1974–1977)","answer":"Under Gerald Ford (9 Aug 1974 to 20 Jan 1977), gold fell 6.3%, from $143 to $134 a troy ounce, comparing the monthly averages of Jul 1974 and Dec 1976; silver rose 0.0%.","stats":[{"label":"Gold","value":"-6.3%","note":"$143 → $134"},{"label":"Silver","value":"+0.0%","note":"$4.40 → $4.40"},{"label":"Gold high","value":"$184","note":"Dec 1974"},{"label":"Gold low","value":"$110","note":"Aug 1976"}]},{"path":"/gold/presidents/carter","title":"How gold performed under Jimmy Carter (1977–1981)","answer":"Under Jimmy Carter (20 Jan 1977 to 20 Jan 1981), gold rose 301.5%, from $134 to $538 a troy ounce, comparing the monthly averages of Dec 1976 and Dec 1980; silver rose 275.0%.","stats":[{"label":"Gold","value":"+301.5%","note":"$134 → $538"},{"label":"Silver","value":"+275.0%","note":"$4.40 → $16.50"},{"label":"Gold high","value":"$675","note":"Jan 1980"},{"label":"Gold low","value":"$132","note":"Jan 1977"}]},{"path":"/gold/presidents/reagan","title":"How gold performed under Ronald Reagan (1981–1989)","answer":"Under Ronald Reagan (20 Jan 1981 to 20 Jan 1989), gold fell 22.1%, from $538 to $419 a troy ounce, comparing the monthly averages of Dec 1980 and Dec 1988; silver fell 63.0%.","stats":[{"label":"Gold","value":"-22.1%","note":"$538 → $419"},{"label":"Silver","value":"-63.0%","note":"$16.50 → $6.10"},{"label":"Gold high","value":"$557","note":"Jan 1981"},{"label":"Gold low","value":"$299","note":"Feb 1985"}]},{"path":"/gold/presidents/george-h-w-bush","title":"How gold performed under George H. W. Bush (1989–1993)","answer":"Under George H. W. Bush (20 Jan 1989 to 20 Jan 1993), gold fell 20.0%, from $419 to $335 a troy ounce, comparing the monthly averages of Dec 1988 and Dec 1992; silver fell 39.3%.","stats":[{"label":"Gold","value":"-20.0%","note":"$419 → $335"},{"label":"Silver","value":"-39.3%","note":"$6.10 → $3.70"},{"label":"Gold high","value":"$419","note":"Dec 1988"},{"label":"Gold low","value":"$335","note":"Nov 1992"}]},{"path":"/gold/presidents/clinton","title":"How gold performed under Bill Clinton (1993–2001)","answer":"Under Bill Clinton (20 Jan 1993 to 20 Jan 2001), gold fell 19.1%, from $335 to $271 a troy ounce, comparing the monthly averages of Dec 1992 and Dec 2000; silver rose 24.3%.","stats":[{"label":"Gold","value":"-19.1%","note":"$335 → $271"},{"label":"Silver","value":"+24.3%","note":"$3.70 → $4.60"},{"label":"Gold high","value":"$405","note":"Feb 1996"},{"label":"Gold low","value":"$256","note":"Jul 1999"}]},{"path":"/gold/presidents/george-w-bush","title":"How gold performed under George W. Bush (2001–2009)","answer":"Under George W. Bush (20 Jan 2001 to 20 Jan 2009), gold rose 201.1%, from $271 to $816 a troy ounce, comparing the monthly averages of Dec 2000 and Dec 2008; silver rose 123.9%.","stats":[{"label":"Gold","value":"+201.1%","note":"$271 → $816"},{"label":"Silver","value":"+123.9%","note":"$4.60 → $10.30"},{"label":"Gold high","value":"$968","note":"Mar 2008"},{"label":"Gold low","value":"$260","note":"Apr 2001"}]},{"path":"/gold/presidents/obama","title":"How gold performed under Barack Obama (2009–2017)","answer":"Under Barack Obama (20 Jan 2009 to 20 Jan 2017), gold rose 41.8%, from $816 to $1,157 a troy ounce, comparing the monthly averages of Dec 2008 and Dec 2016; silver rose 59.2%.","stats":[{"label":"Gold","value":"+41.8%","note":"$816 → $1,157"},{"label":"Silver","value":"+59.2%","note":"$10.30 → $16.40"},{"label":"Gold high","value":"$1,772","note":"Sep 2011"},{"label":"Gold low","value":"$816","note":"Dec 2008"}]},{"path":"/gold/presidents/trump-first-term","title":"How gold performed under Donald Trump I (2017–2021)","answer":"Under Donald Trump I (20 Jan 2017 to 20 Jan 2021), gold rose 60.6%, from $1,157 to $1,858 a troy ounce, comparing the monthly averages of Dec 2016 and Dec 2020; silver rose 52.4%.","stats":[{"label":"Gold","value":"+60.6%","note":"$1,157 → $1,858"},{"label":"Silver","value":"+52.4%","note":"$16.40 → $25.00"},{"label":"Gold high","value":"$1,969","note":"Aug 2020"},{"label":"Gold low","value":"$1,157","note":"Dec 2016"}]},{"path":"/gold/presidents/biden","title":"How gold performed under Joe Biden (2021–2025)","answer":"Under Joe Biden (20 Jan 2021 to 20 Jan 2025), gold rose 42.5%, from $1,858 to $2,648 a troy ounce, comparing the monthly averages of Dec 2020 and Dec 2024; silver rose 23.2%.","stats":[{"label":"Gold","value":"+42.5%","note":"$1,858 → $2,648"},{"label":"Silver","value":"+23.2%","note":"$25.00 → $30.80"},{"label":"Gold high","value":"$2,690","note":"Oct 2024"},{"label":"Gold low","value":"$1,664","note":"Oct 2022"}]},{"path":"/gold/presidents/trump-second-term","title":"How gold performed under Donald Trump II (2025–)","answer":"Under Donald Trump II (20 Jan 2025 to the present), gold rose 55.0%, from $2,648 to $4,104 a troy ounce, comparing the monthly averages of Dec 2024 and Oct 2026; silver rose 85.3%.","stats":[{"label":"Gold","value":"+55.0%","note":"$2,648 → $4,104"},{"label":"Silver","value":"+85.3%","note":"$30.80 → $57.08"},{"label":"Gold high","value":"$5,020","note":"Feb 2026"},{"label":"Gold low","value":"$2,648","note":"Dec 2024"}]},{"path":"/gold/parties/democrats","title":"Gold under Democratic presidents since 1971","answer":"Since Feb 1971, $1,000 in gold held only through the 4 Democratic presidencies grew to about $6,600, about 8.2% a year over 288 months; silver grew to about $9,100.","stats":[{"label":"Gold","value":"$6,600","note":"from $1,000"},{"label":"Silver","value":"$9,100","note":"from $1,000"},{"label":"Months","value":"288"},{"label":"Best for gold","value":"Carter","note":"+301.5%"}]},{"path":"/gold/parties/republicans","title":"Gold under Republican presidents since 1971","answer":"Since Feb 1971, $1,000 in gold held only through the 7 Republican presidencies grew to about $16,000, about 9.2% a year over 380 months; silver grew to about $3,900.","stats":[{"label":"Gold","value":"$16,000","note":"from $1,000"},{"label":"Silver","value":"$3,900","note":"from $1,000"},{"label":"Months","value":"380"},{"label":"Best for gold","value":"Nixon","note":"+276.3%"}]},{"path":"/gold/parties/democrats-vs-republicans","title":"Gold under Democratic vs Republican presidents since 1971","answer":"Since Feb 1971, $1,000 in gold held only through Republican presidencies grew to about $16,000, and held only through Democratic presidencies to about $6,600; for silver the order reverses, about $9,100 through Democratic terms and $3,900 through Republican ones.","stats":[{"label":"Gold · Republican","value":"$16,000","note":"9.2% a year"},{"label":"Gold · Democratic","value":"$6,600","note":"8.2% a year"},{"label":"Silver · Republican","value":"$3,900"},{"label":"Silver · Democratic","value":"$9,100"}]},{"path":"/gold/events/off-the-gold-standard-1971","title":"Gold after Off the gold standard (15 Aug 1971)","answer":"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.","stats":[{"label":"Gold before","value":"$41.00","note":"Jul 1971"},{"label":"Gold +3 months","value":"+4.9%"},{"label":"Gold +12 months","value":"+63.4%"},{"label":"Silver +12 months","value":"+12.5%"}]},{"path":"/gold/events/opec-oil-embargo-1973","title":"Gold after OPEC oil embargo (17 Oct 1973)","answer":"After OPEC oil embargo on 17 Oct 1973, gold was 25.2% higher three months on and 54.4% higher twelve months on, measured from the Sep 1973 monthly average of $103 a troy ounce.","stats":[{"label":"Gold before","value":"$103","note":"Sep 1973"},{"label":"Gold +3 months","value":"+25.2%"},{"label":"Gold +12 months","value":"+54.4%"},{"label":"Silver +12 months","value":"+77.8%"}]},{"path":"/gold/events/volcker-shock-1979","title":"Gold after Volcker shock (6 Oct 1979)","answer":"After Volcker shock on 6 Oct 1979, gold was 90.1% higher three months on and 86.2% higher twelve months on, measured from the Sep 1979 monthly average of $355 a troy ounce.","stats":[{"label":"Gold before","value":"$355","note":"Sep 1979"},{"label":"Gold +3 months","value":"+90.1%"},{"label":"Gold +12 months","value":"+86.2%"},{"label":"Silver +12 months","value":"+46.4%"}]},{"path":"/gold/events/iran-hostages-1979","title":"Gold after Iran hostages (4 Nov 1979)","answer":"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.","stats":[{"label":"Gold before","value":"$392","note":"Oct 1979"},{"label":"Gold +3 months","value":"+69.6%"},{"label":"Gold +12 months","value":"+59.4%"},{"label":"Silver +12 months","value":"+12.0%"}]},{"path":"/gold/events/soviet-afghanistan-1979","title":"Gold after Soviet Afghanistan (27 Dec 1979)","answer":"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.","stats":[{"label":"Gold before","value":"$392","note":"Nov 1979"},{"label":"Gold +3 months","value":"+41.3%"},{"label":"Gold +12 months","value":"+37.2%"},{"label":"Silver +12 months","value":"-1.2%"}]},{"path":"/gold/events/hunt-silver-squeeze-1980","title":"Gold after Hunt silver squeeze (18 Jan 1980)","answer":"After Hunt silver squeeze on 18 Jan 1980, gold was 13.6% higher three months on and 22.4% higher twelve months on, measured from the Dec 1979 monthly average of $455 a troy ounce.","stats":[{"label":"Gold before","value":"$455","note":"Dec 1979"},{"label":"Gold +3 months","value":"+13.6%"},{"label":"Gold +12 months","value":"+22.4%"},{"label":"Silver +12 months","value":"-34.2%"}]},{"path":"/gold/events/grenada-1983","title":"Gold after Grenada (25 Oct 1983)","answer":"After Grenada on 25 Oct 1983, gold was 10.0% lower three months on and 17.2% lower twelve months on, measured from the Sep 1983 monthly average of $412 a troy ounce.","stats":[{"label":"Gold before","value":"$412","note":"Sep 1983"},{"label":"Gold +3 months","value":"-10.0%"},{"label":"Gold +12 months","value":"-17.2%"},{"label":"Silver +12 months","value":"-39.2%"}]},{"path":"/gold/events/dollar-index-peaks-1985","title":"Gold after Dollar index peaks (25 Feb 1985)","answer":"After Dollar index peaks on 25 Feb 1985, gold was 4.3% higher three months on and 11.9% higher twelve months on, measured from the Jan 1985 monthly average of $303 a troy ounce.","stats":[{"label":"Gold before","value":"$303","note":"Jan 1985"},{"label":"Gold +3 months","value":"+4.3%"},{"label":"Gold +12 months","value":"+11.9%"},{"label":"Silver +12 months","value":"-3.3%"}]},{"path":"/gold/events/plaza-accord-1985","title":"Gold after Plaza Accord (22 Sep 1985)","answer":"After Plaza Accord on 22 Sep 1985, gold was 2.4% lower three months on and 26.7% higher twelve months on, measured from the Aug 1985 monthly average of $330 a troy ounce.","stats":[{"label":"Gold before","value":"$330","note":"Aug 1985"},{"label":"Gold +3 months","value":"-2.4%"},{"label":"Gold +12 months","value":"+26.7%"},{"label":"Silver +12 months","value":"-9.7%"}]},{"path":"/gold/events/black-monday-1987","title":"Gold after Black Monday (19 Oct 1987)","answer":"After Black Monday on 19 Oct 1987, gold was 3.7% higher three months on and 11.5% lower twelve months on, measured from the Sep 1987 monthly average of $460 a troy ounce.","stats":[{"label":"Gold before","value":"$460","note":"Sep 1987"},{"label":"Gold +3 months","value":"+3.7%"},{"label":"Gold +12 months","value":"-11.5%"},{"label":"Silver +12 months","value":"-17.1%"}]},{"path":"/gold/events/savings-and-loan-bailout-1989","title":"Gold after Savings and loan bailout (9 Aug 1989)","answer":"After Savings and loan bailout on 9 Aug 1989, gold was 5.1% higher three months on and 5.3% higher twelve months on, measured from the Jul 1989 monthly average of $375 a troy ounce.","stats":[{"label":"Gold before","value":"$375","note":"Jul 1989"},{"label":"Gold +3 months","value":"+5.1%"},{"label":"Gold +12 months","value":"+5.3%"},{"label":"Silver +12 months","value":"-3.8%"}]},{"path":"/gold/events/panama-1989","title":"Gold after Panama (20 Dec 1989)","answer":"After Panama on 20 Dec 1989, gold was 0.3% lower three months on and 4.3% lower twelve months on, measured from the Nov 1989 monthly average of $394 a troy ounce.","stats":[{"label":"Gold before","value":"$394","note":"Nov 1989"},{"label":"Gold +3 months","value":"-0.3%"},{"label":"Gold +12 months","value":"-4.3%"},{"label":"Silver +12 months","value":"-25.5%"}]},{"path":"/gold/events/kuwait-invaded-1990","title":"Gold after Kuwait invaded (2 Aug 1990)","answer":"After Kuwait invaded on 2 Aug 1990, gold was 5.2% higher three months on and 1.9% lower twelve months on, measured from the Jul 1990 monthly average of $363 a troy ounce.","stats":[{"label":"Gold before","value":"$363","note":"Jul 1990"},{"label":"Gold +3 months","value":"+5.2%"},{"label":"Gold +12 months","value":"-1.9%"},{"label":"Silver +12 months","value":"-18.4%"}]},{"path":"/gold/events/desert-storm-1991","title":"Gold after Desert Storm (16 Jan 1991)","answer":"After Desert Storm on 16 Jan 1991, gold was 5.0% lower three months on and 6.1% lower twelve months on, measured from the Dec 1990 monthly average of $377 a troy ounce.","stats":[{"label":"Gold before","value":"$377","note":"Dec 1990"},{"label":"Gold +3 months","value":"-5.0%"},{"label":"Gold +12 months","value":"-6.1%"},{"label":"Silver +12 months","value":"+0.0%"}]},{"path":"/gold/events/asian-financial-crisis-1997","title":"Gold after Asian financial crisis (2 Jul 1997)","answer":"After Asian financial crisis on 2 Jul 1997, gold was 4.7% lower three months on and 14.1% lower twelve months on, measured from the Jun 1997 monthly average of $341 a troy ounce.","stats":[{"label":"Gold before","value":"$341","note":"Jun 1997"},{"label":"Gold +3 months","value":"-4.7%"},{"label":"Gold +12 months","value":"-14.1%"},{"label":"Silver +12 months","value":"+14.6%"}]},{"path":"/gold/events/ltcm-rescue-1998","title":"Gold after LTCM rescue (23 Sep 1998)","answer":"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.","stats":[{"label":"Gold before","value":"$284","note":"Aug 1998"},{"label":"Gold +3 months","value":"+2.8%"},{"label":"Gold +12 months","value":"-6.7%"},{"label":"Silver +12 months","value":"+0.0%"}]},{"path":"/gold/events/kosovo-1999","title":"Gold after Kosovo (24 Mar 1999)","answer":"After Kosovo on 24 Mar 1999, gold was 9.1% lower three months on and 0.3% lower twelve months on, measured from the Feb 1999 monthly average of $287 a troy ounce.","stats":[{"label":"Gold before","value":"$287","note":"Feb 1999"},{"label":"Gold +3 months","value":"-9.1%"},{"label":"Gold +12 months","value":"-0.3%"},{"label":"Silver +12 months","value":"-7.3%"}]},{"path":"/gold/events/browns-bottom-1999","title":"Gold after Brown’s Bottom (7 May 1999)","answer":"After Brown’s Bottom on 7 May 1999, gold was 9.2% lower three months on and 2.8% lower twelve months on, measured from the Apr 1999 monthly average of $283 a troy ounce.","stats":[{"label":"Gold before","value":"$283","note":"Apr 1999"},{"label":"Gold +3 months","value":"-9.2%"},{"label":"Gold +12 months","value":"-2.8%"},{"label":"Silver +12 months","value":"-2.0%"}]},{"path":"/gold/events/washington-agreement-on-gold-1999","title":"Gold after Washington Agreement on Gold (26 Sep 1999)","answer":"After Washington Agreement on Gold on 26 Sep 1999, gold was 10.1% higher three months on and 6.6% higher twelve months on, measured from the Aug 1999 monthly average of $257 a troy ounce.","stats":[{"label":"Gold before","value":"$257","note":"Aug 1999"},{"label":"Gold +3 months","value":"+10.1%"},{"label":"Gold +12 months","value":"+6.6%"},{"label":"Silver +12 months","value":"-7.5%"}]},{"path":"/gold/events/dot-com-peak-2000","title":"Gold after Dot-com peak (10 Mar 2000)","answer":"After Dot-com peak on 10 Mar 2000, gold was 4.7% lower three months on and 12.3% lower twelve months on, measured from the Feb 2000 monthly average of $300 a troy ounce.","stats":[{"label":"Gold before","value":"$300","note":"Feb 2000"},{"label":"Gold +3 months","value":"-4.7%"},{"label":"Gold +12 months","value":"-12.3%"},{"label":"Silver +12 months","value":"-15.4%"}]},{"path":"/gold/events/9-11-2001","title":"Gold after 9/11 (11 Sep 2001)","answer":"After 9/11 on 11 Sep 2001, gold was 1.5% higher three months on and 17.3% higher twelve months on, measured from the Aug 2001 monthly average of $272 a troy ounce.","stats":[{"label":"Gold before","value":"$272","note":"Aug 2001"},{"label":"Gold +3 months","value":"+1.5%"},{"label":"Gold +12 months","value":"+17.3%"},{"label":"Silver +12 months","value":"+9.5%"}]},{"path":"/gold/events/afghanistan-2001","title":"Gold after Afghanistan (7 Oct 2001)","answer":"After Afghanistan on 7 Oct 2001, gold was 0.4% lower three months on and 12.0% higher twelve months on, measured from the Sep 2001 monthly average of $283 a troy ounce.","stats":[{"label":"Gold before","value":"$283","note":"Sep 2001"},{"label":"Gold +3 months","value":"-0.4%"},{"label":"Gold +12 months","value":"+12.0%"},{"label":"Silver +12 months","value":"+0.0%"}]},{"path":"/gold/events/iraq-2003","title":"Gold after Iraq (19 Mar 2003)","answer":"After Iraq on 19 Mar 2003, gold was 0.8% lower three months on and 13.4% higher twelve months on, measured from the Feb 2003 monthly average of $359 a troy ounce.","stats":[{"label":"Gold before","value":"$359","note":"Feb 2003"},{"label":"Gold +3 months","value":"-0.8%"},{"label":"Gold +12 months","value":"+13.4%"},{"label":"Silver +12 months","value":"+53.2%"}]},{"path":"/gold/events/gld-launches-2004","title":"Gold after GLD launches (18 Nov 2004)","answer":"After GLD launches on 18 Nov 2004, gold was 0.7% higher three months on and 13.6% higher twelve months on, measured from the Oct 2004 monthly average of $420 a troy ounce.","stats":[{"label":"Gold before","value":"$420","note":"Oct 2004"},{"label":"Gold +3 months","value":"+0.7%"},{"label":"Gold +12 months","value":"+13.6%"},{"label":"Silver +12 months","value":"+11.3%"}]},{"path":"/gold/events/lehman-collapses-2008","title":"Gold after Lehman collapses (15 Sep 2008)","answer":"After Lehman collapses on 15 Sep 2008, gold was 2.7% lower three months on and 18.8% higher twelve months on, measured from the Aug 2008 monthly average of $839 a troy ounce.","stats":[{"label":"Gold before","value":"$839","note":"Aug 2008"},{"label":"Gold +3 months","value":"-2.7%"},{"label":"Gold +12 months","value":"+18.8%"},{"label":"Silver +12 months","value":"+12.3%"}]},{"path":"/gold/events/china-doubles-reported-gold-reserves-2009","title":"Gold after China doubles reported gold reserves (24 Apr 2009)","answer":"After China doubles reported gold reserves on 24 Apr 2009, gold was 1.1% higher three months on and 24.4% higher twelve months on, measured from the Mar 2009 monthly average of $924 a troy ounce.","stats":[{"label":"Gold before","value":"$924","note":"Mar 2009"},{"label":"Gold +3 months","value":"+1.1%"},{"label":"Gold +12 months","value":"+24.4%"},{"label":"Silver +12 months","value":"+38.2%"}]},{"path":"/gold/events/central-banks-turn-net-buyers-2010","title":"Gold after Central banks turn net buyers (1 Jan 2010)","answer":"After Central banks turn net buyers on 1 Jan 2010, gold was 1.2% higher three months on and 19.8% higher twelve months on, measured from the Dec 2009 monthly average of $1,135 a troy ounce.","stats":[{"label":"Gold before","value":"$1,135","note":"Dec 2009"},{"label":"Gold +3 months","value":"+1.2%"},{"label":"Gold +12 months","value":"+19.8%"},{"label":"Silver +12 months","value":"+61.9%"}]},{"path":"/gold/events/libya-2011","title":"Gold after Libya (19 Mar 2011)","answer":"After Libya on 19 Mar 2011, gold was 11.2% higher three months on and 21.9% higher twelve months on, measured from the Feb 2011 monthly average of $1,375 a troy ounce.","stats":[{"label":"Gold before","value":"$1,375","note":"Feb 2011"},{"label":"Gold +3 months","value":"+11.2%"},{"label":"Gold +12 months","value":"+21.9%"},{"label":"Silver +12 months","value":"+7.1%"}]},{"path":"/gold/events/us-credit-downgrade-2011","title":"Gold after US credit downgrade (5 Aug 2011)","answer":"After US credit downgrade on 5 Aug 2011, gold was 10.6% higher three months on and 3.6% higher twelve months on, measured from the Jul 2011 monthly average of $1,573 a troy ounce.","stats":[{"label":"Gold before","value":"$1,573","note":"Jul 2011"},{"label":"Gold +3 months","value":"+10.6%"},{"label":"Gold +12 months","value":"+3.6%"},{"label":"Silver +12 months","value":"-24.0%"}]},{"path":"/gold/events/euro-crisis-summit-2011","title":"Gold after Euro crisis summit (26 Oct 2011)","answer":"After Euro crisis summit on 26 Oct 2011, gold was 6.7% lower three months on and 1.4% lower twelve months on, measured from the Sep 2011 monthly average of $1,772 a troy ounce.","stats":[{"label":"Gold before","value":"$1,772","note":"Sep 2011"},{"label":"Gold +3 months","value":"-6.7%"},{"label":"Gold +12 months","value":"-1.4%"},{"label":"Silver +12 months","value":"-13.1%"}]},{"path":"/gold/events/golds-2013-crash-2013","title":"Gold after Gold’s 2013 crash (12 Apr 2013)","answer":"After Gold’s 2013 crash on 12 Apr 2013, gold was 19.3% lower three months on and 18.5% lower twelve months on, measured from the Mar 2013 monthly average of $1,593 a troy ounce.","stats":[{"label":"Gold before","value":"$1,593","note":"Mar 2013"},{"label":"Gold +3 months","value":"-19.3%"},{"label":"Gold +12 months","value":"-18.5%"},{"label":"Silver +12 months","value":"-31.6%"}]},{"path":"/gold/events/isis-2014","title":"Gold after ISIS (8 Aug 2014)","answer":"After ISIS on 8 Aug 2014, gold was 10.4% lower three months on and 14.7% lower twelve months on, measured from the Jul 2014 monthly average of $1,311 a troy ounce.","stats":[{"label":"Gold before","value":"$1,311","note":"Jul 2014"},{"label":"Gold +3 months","value":"-10.4%"},{"label":"Gold +12 months","value":"-14.7%"},{"label":"Silver +12 months","value":"-28.7%"}]},{"path":"/gold/events/swiss-franc-unpegged-2015","title":"Gold after Swiss franc unpegged (15 Jan 2015)","answer":"After Swiss franc unpegged on 15 Jan 2015, gold was 0.2% lower three months on and 8.6% lower twelve months on, measured from the Dec 2014 monthly average of $1,201 a troy ounce.","stats":[{"label":"Gold before","value":"$1,201","note":"Dec 2014"},{"label":"Gold +3 months","value":"-0.2%"},{"label":"Gold +12 months","value":"-8.6%"},{"label":"Silver +12 months","value":"-13.5%"}]},{"path":"/gold/events/bank-of-japan-goes-negative-2016","title":"Gold after Bank of Japan goes negative (29 Jan 2016)","answer":"After Bank of Japan goes negative on 29 Jan 2016, gold was 15.4% higher three months on and 10.8% higher twelve months on, measured from the Dec 2015 monthly average of $1,076 a troy ounce.","stats":[{"label":"Gold before","value":"$1,076","note":"Dec 2015"},{"label":"Gold +3 months","value":"+15.4%"},{"label":"Gold +12 months","value":"+10.8%"},{"label":"Silver +12 months","value":"+19.9%"}]},{"path":"/gold/events/brexit-2016","title":"Gold after Brexit (23 Jun 2016)","answer":"After Brexit on 23 Jun 2016, gold was 5.2% higher three months on and 0.1% lower twelve months on, measured from the May 2016 monthly average of $1,261 a troy ounce.","stats":[{"label":"Gold before","value":"$1,261","note":"May 2016"},{"label":"Gold +3 months","value":"+5.2%"},{"label":"Gold +12 months","value":"-0.1%"},{"label":"Silver +12 months","value":"+0.0%"}]},{"path":"/gold/events/u-s-iran-2020","title":"Gold after U.S.–Iran (2 Jan 2020)","answer":"After U.S.–Iran on 2 Jan 2020, gold was 13.8% higher three months on and 26.2% higher twelve months on, measured from the Dec 2019 monthly average of $1,479 a troy ounce.","stats":[{"label":"Gold before","value":"$1,479","note":"Dec 2019"},{"label":"Gold +3 months","value":"+13.8%"},{"label":"Gold +12 months","value":"+26.2%"},{"label":"Silver +12 months","value":"+51.5%"}]},{"path":"/gold/events/covid-declared-a-pandemic-2020","title":"Gold after COVID declared a pandemic (11 Mar 2020)","answer":"After COVID declared a pandemic on 11 Mar 2020, gold was 8.5% higher three months on and 7.6% higher twelve months on, measured from the Feb 2020 monthly average of $1,597 a troy ounce.","stats":[{"label":"Gold before","value":"$1,597","note":"Feb 2020"},{"label":"Gold +3 months","value":"+8.5%"},{"label":"Gold +12 months","value":"+7.6%"},{"label":"Silver +12 months","value":"+43.0%"}]},{"path":"/gold/events/afghanistan-exit-2021","title":"Gold after Afghanistan exit (30 Aug 2021)","answer":"After Afghanistan exit on 30 Aug 2021, gold was 0.8% higher three months on and 2.4% lower twelve months on, measured from the Jul 2021 monthly average of $1,808 a troy ounce.","stats":[{"label":"Gold before","value":"$1,808","note":"Jul 2021"},{"label":"Gold +3 months","value":"+0.8%"},{"label":"Gold +12 months","value":"-2.4%"},{"label":"Silver +12 months","value":"-23.3%"}]},{"path":"/gold/events/ukraine-2022","title":"Gold after Ukraine (24 Feb 2022)","answer":"After Ukraine on 24 Feb 2022, gold was 1.8% higher three months on and 2.1% higher twelve months on, measured from the Jan 2022 monthly average of $1,816 a troy ounce.","stats":[{"label":"Gold before","value":"$1,816","note":"Jan 2022"},{"label":"Gold +3 months","value":"+1.8%"},{"label":"Gold +12 months","value":"+2.1%"},{"label":"Silver +12 months","value":"-5.6%"}]},{"path":"/gold/events/russian-reserves-frozen-2022","title":"Gold after Russian reserves frozen (28 Feb 2022)","answer":"After Russian reserves frozen on 28 Feb 2022, gold was 1.8% higher three months on and 2.1% higher twelve months on, measured from the Jan 2022 monthly average of $1,816 a troy ounce.","stats":[{"label":"Gold before","value":"$1,816","note":"Jan 2022"},{"label":"Gold +3 months","value":"+1.8%"},{"label":"Gold +12 months","value":"+2.1%"},{"label":"Silver +12 months","value":"-5.6%"}]},{"path":"/gold/events/pboc-resumes-gold-buying-2022","title":"Gold after PBoC resumes gold buying (7 Nov 2022)","answer":"After PBoC resumes gold buying on 7 Nov 2022, gold was 11.5% higher three months on and 19.2% higher twelve months on, measured from the Oct 2022 monthly average of $1,664 a troy ounce.","stats":[{"label":"Gold before","value":"$1,664","note":"Oct 2022"},{"label":"Gold +3 months","value":"+11.5%"},{"label":"Gold +12 months","value":"+19.2%"},{"label":"Silver +12 months","value":"+21.1%"}]},{"path":"/gold/events/boj-widens-the-yield-band-2022","title":"Gold after BoJ widens the yield band (20 Dec 2022)","answer":"After BoJ widens the yield band on 20 Dec 2022, gold was 10.9% higher three months on and 17.4% higher twelve months on, measured from the Nov 2022 monthly average of $1,725 a troy ounce.","stats":[{"label":"Gold before","value":"$1,725","note":"Nov 2022"},{"label":"Gold +3 months","value":"+10.9%"},{"label":"Gold +12 months","value":"+17.4%"},{"label":"Silver +12 months","value":"+13.8%"}]},{"path":"/gold/events/svb-fails-2023","title":"Gold after SVB fails (10 Mar 2023)","answer":"After SVB fails on 10 Mar 2023, gold was 4.7% higher three months on and 16.3% higher twelve months on, measured from the Feb 2023 monthly average of $1,855 a troy ounce.","stats":[{"label":"Gold before","value":"$1,855","note":"Feb 2023"},{"label":"Gold +3 months","value":"+4.7%"},{"label":"Gold +12 months","value":"+16.3%"},{"label":"Silver +12 months","value":"+11.9%"}]},{"path":"/gold/events/red-sea-2024","title":"Gold after Red Sea (11 Jan 2024)","answer":"After Red Sea on 11 Jan 2024, gold was 15.1% higher three months on and 33.8% higher twelve months on, measured from the Dec 2023 monthly average of $2,026 a troy ounce.","stats":[{"label":"Gold before","value":"$2,026","note":"Dec 2023"},{"label":"Gold +3 months","value":"+15.1%"},{"label":"Gold +12 months","value":"+33.8%"},{"label":"Silver +12 months","value":"+27.2%"}]},{"path":"/gold/events/boj-ends-negative-rates-2024","title":"Gold after BoJ ends negative rates (19 Mar 2024)","answer":"After BoJ ends negative rates on 19 Mar 2024, gold was 15.0% higher three months on and 47.5% higher twelve months on, measured from the Feb 2024 monthly average of $2,023 a troy ounce.","stats":[{"label":"Gold before","value":"$2,023","note":"Feb 2024"},{"label":"Gold +3 months","value":"+15.0%"},{"label":"Gold +12 months","value":"+47.5%"},{"label":"Silver +12 months","value":"+46.3%"}]},{"path":"/gold/events/boj-hike-and-carry-trade-unwind-2024","title":"Gold after BoJ hike & carry-trade unwind (31 Jul 2024)","answer":"After BoJ hike & carry-trade unwind on 31 Jul 2024, gold was 15.6% higher three months on and 43.6% higher twelve months on, measured from the Jun 2024 monthly average of $2,326 a troy ounce.","stats":[{"label":"Gold before","value":"$2,326","note":"Jun 2024"},{"label":"Gold +3 months","value":"+15.6%"},{"label":"Gold +12 months","value":"+43.6%"},{"label":"Silver +12 months","value":"+27.4%"}]},{"path":"/gold/events/feds-first-cut-of-the-cycle-2024","title":"Gold after Fed’s first cut of the cycle (18 Sep 2024)","answer":"After Fed’s first cut of the cycle on 18 Sep 2024, gold was 7.2% higher three months on and 48.5% higher twelve months on, measured from the Aug 2024 monthly average of $2,470 a troy ounce.","stats":[{"label":"Gold before","value":"$2,470","note":"Aug 2024"},{"label":"Gold +3 months","value":"+7.2%"},{"label":"Gold +12 months","value":"+48.5%"},{"label":"Silver +12 months","value":"+50.2%"}]},{"path":"/gold/events/liberation-day-tariffs-2025","title":"Gold after “Liberation Day” tariffs (2 Apr 2025)","answer":"After “Liberation Day” tariffs on 2 Apr 2025, gold was 12.0% higher three months on and 58.3% higher twelve months on, measured from the Mar 2025 monthly average of $2,983 a troy ounce.","stats":[{"label":"Gold before","value":"$2,983","note":"Mar 2025"},{"label":"Gold +3 months","value":"+12.0%"},{"label":"Gold +12 months","value":"+58.3%"},{"label":"Silver +12 months","value":"+128.6%"}]},{"path":"/gold/events/moodys-strips-the-last-aaa-2025","title":"Gold after Moody’s strips the last AAA (16 May 2025)","answer":"After Moody’s strips the last AAA on 16 May 2025, gold was 4.7% higher three months on and 42.5% higher twelve months on, measured from the Apr 2025 monthly average of $3,218 a troy ounce.","stats":[{"label":"Gold before","value":"$3,218","note":"Apr 2025"},{"label":"Gold +3 months","value":"+4.7%"},{"label":"Gold +12 months","value":"+42.5%"},{"label":"Silver +12 months","value":"+142.2%"}]},{"path":"/gold/events/iran-2025","title":"Gold after Iran (21 Jun 2025)","answer":"After Iran on 21 Jun 2025, gold was 10.8% higher three months on and 27.8% higher twelve months on, measured from the May 2025 monthly average of $3,309 a troy ounce.","stats":[{"label":"Gold before","value":"$3,309","note":"May 2025"},{"label":"Gold +3 months","value":"+10.8%"},{"label":"Gold +12 months","value":"+27.8%"},{"label":"Silver +12 months","value":"+103.4%"}]},{"path":"/gold/events/iran-war-2026","title":"Gold after Iran war (28 Feb 2026)","answer":"After Iran war on 28 Feb 2026, gold was 3.5% lower three months on and twelve months on is not yet in the record, measured from the Jan 2026 monthly average of $4,753 a troy ounce.","stats":[{"label":"Gold before","value":"$4,753","note":"Jan 2026"},{"label":"Gold +3 months","value":"-3.5%"}]},{"path":"/gold/midterms","title":"How gold performed after U.S. midterm elections","answer":"Twelve months after the 13 U.S. midterm elections since 1974, gold was higher 8 times; the average change was +13.7% and the median +15.0%, from the November election month to the November a year later (monthly averages).","stats":[{"label":"Higher after 12 months","value":"8 of 13"},{"label":"Average","value":"+13.7%"},{"label":"Median","value":"+15.0%"},{"label":"Best","value":"+90.3%","note":"1978"}]},{"path":"/gold/midterms/1974","title":"Gold after the 1974 midterm elections","answer":"After the 1974 midterm on 5 Nov 1974, gold was 22.0% lower twelve months later, from the November 1974 monthly average of $182 a troy ounce; the president's party, the Republicans, kept both chambers.","stats":[{"label":"Gold, Nov 1974","value":"$182"},{"label":"+3 months","value":"-1.1%"},{"label":"+6 months","value":"-8.2%"},{"label":"+12 months","value":"-22.0%"},{"label":"Silver +12 months","value":"-8.5%"}]},{"path":"/gold/midterms/1978","title":"Gold after the 1978 midterm elections","answer":"After the 1978 midterm on 7 Nov 1978, gold was 90.3% higher twelve months later, from the November 1978 monthly average of $206 a troy ounce; the president's party, the Democratics, kept both chambers.","stats":[{"label":"Gold, Nov 1978","value":"$206"},{"label":"+3 months","value":"+19.4%"},{"label":"+6 months","value":"+25.2%"},{"label":"+12 months","value":"+90.3%"},{"label":"Silver +12 months","value":"+183.1%"}]},{"path":"/gold/midterms/1982","title":"Gold after the 1982 midterm elections","answer":"After the 1982 midterm on 2 Nov 1982, gold was 8.0% lower twelve months later, from the November 1982 monthly average of $415 a troy ounce; the president's party, the Republicans, kept both chambers.","stats":[{"label":"Gold, Nov 1982","value":"$415"},{"label":"+3 months","value":"+18.3%"},{"label":"+6 months","value":"+5.5%"},{"label":"+12 months","value":"-8.0%"},{"label":"Silver +12 months","value":"-10.2%"}]},{"path":"/gold/midterms/1986","title":"Gold after the 1986 midterm elections","answer":"After the 1986 midterm on 4 Nov 1986, gold was 17.6% higher twelve months later, from the November 1986 monthly average of $398 a troy ounce; the president's party, the Republicans, lost the Senate.","stats":[{"label":"Gold, Nov 1986","value":"$398"},{"label":"+3 months","value":"+0.8%"},{"label":"+6 months","value":"+15.6%"},{"label":"+12 months","value":"+17.6%"},{"label":"Silver +12 months","value":"+21.4%"}]},{"path":"/gold/midterms/1990","title":"Gold after the 1990 midterm elections","answer":"After the 1990 midterm on 6 Nov 1990, gold was 5.8% lower twelve months later, from the November 1990 monthly average of $382 a troy ounce; the president's party, the Republicans, kept both chambers.","stats":[{"label":"Gold, Nov 1990","value":"$382"},{"label":"+3 months","value":"-4.7%"},{"label":"+6 months","value":"-6.5%"},{"label":"+12 months","value":"-5.8%"},{"label":"Silver +12 months","value":"-2.4%"}]},{"path":"/gold/midterms/1994","title":"Gold after the 1994 midterm elections","answer":"After the 1994 midterm on 8 Nov 1994, gold was 0.3% higher twelve months later, from the November 1994 monthly average of $384 a troy ounce; the president's party, the Democratics, lost the House and the Senate.","stats":[{"label":"Gold, Nov 1994","value":"$384"},{"label":"+3 months","value":"-1.8%"},{"label":"+6 months","value":"+0.3%"},{"label":"+12 months","value":"+0.3%"},{"label":"Silver +12 months","value":"+1.9%"}]},{"path":"/gold/midterms/1998","title":"Gold after the 1998 midterm elections","answer":"After the 1998 midterm on 3 Nov 1998, gold was 0.3% lower twelve months later, from the November 1998 monthly average of $294 a troy ounce; the president's party, the Democratics, kept both chambers.","stats":[{"label":"Gold, Nov 1998","value":"$294"},{"label":"+3 months","value":"-2.4%"},{"label":"+6 months","value":"-6.1%"},{"label":"+12 months","value":"-0.3%"},{"label":"Silver +12 months","value":"+4.0%"}]},{"path":"/gold/midterms/2002","title":"Gold after the 2002 midterm elections","answer":"After the 2002 midterm on 5 Nov 2002, gold was 22.3% higher twelve months later, from the November 2002 monthly average of $319 a troy ounce; the president's party, the Republicans, kept both chambers.","stats":[{"label":"Gold, Nov 2002","value":"$319"},{"label":"+3 months","value":"+12.5%"},{"label":"+6 months","value":"+11.6%"},{"label":"+12 months","value":"+22.3%"},{"label":"Silver +12 months","value":"+15.6%"}]},{"path":"/gold/midterms/2006","title":"Gold after the 2006 midterm elections","answer":"After the 2006 midterm on 7 Nov 2006, gold was 28.3% higher twelve months later, from the November 2006 monthly average of $628 a troy ounce; the president's party, the Republicans, lost the House and the Senate.","stats":[{"label":"Gold, Nov 2006","value":"$628"},{"label":"+3 months","value":"+5.9%"},{"label":"+6 months","value":"+6.2%"},{"label":"+12 months","value":"+28.3%"},{"label":"Silver +12 months","value":"+14.0%"}]},{"path":"/gold/midterms/2010","title":"Gold after the 2010 midterm elections","answer":"After the 2010 midterm on 2 Nov 2010, gold was 26.9% higher twelve months later, from the November 2010 monthly average of $1,370 a troy ounce; the president's party, the Democratics, lost the House.","stats":[{"label":"Gold, Nov 2010","value":"$1,370"},{"label":"+3 months","value":"+0.4%"},{"label":"+6 months","value":"+10.4%"},{"label":"+12 months","value":"+26.9%"},{"label":"Silver +12 months","value":"+24.9%"}]},{"path":"/gold/midterms/2014","title":"Gold after the 2014 midterm elections","answer":"After the 2014 midterm on 4 Nov 2014, gold was 7.6% lower twelve months later, from the November 2014 monthly average of $1,175 a troy ounce; the president's party, the Democratics, lost the Senate.","stats":[{"label":"Gold, Nov 2014","value":"$1,175"},{"label":"+3 months","value":"+4.4%"},{"label":"+6 months","value":"+2.0%"},{"label":"+12 months","value":"-7.6%"},{"label":"Silver +12 months","value":"-9.4%"}]},{"path":"/gold/midterms/2018","title":"Gold after the 2018 midterm elections","answer":"After the 2018 midterm on 6 Nov 2018, gold was 20.5% higher twelve months later, from the November 2018 monthly average of $1,221 a troy ounce; the president's party, the Republicans, lost the House.","stats":[{"label":"Gold, Nov 2018","value":"$1,221"},{"label":"+3 months","value":"+8.1%"},{"label":"+6 months","value":"+5.2%"},{"label":"+12 months","value":"+20.5%"},{"label":"Silver +12 months","value":"+19.4%"}]},{"path":"/gold/midterms/2022","title":"Gold after the 2022 midterm elections","answer":"After the 2022 midterm on 8 Nov 2022, gold was 15.0% higher twelve months later, from the November 2022 monthly average of $1,725 a troy ounce; the president's party, the Democratics, lost the House.","stats":[{"label":"Gold, Nov 2022","value":"$1,725"},{"label":"+3 months","value":"+7.5%"},{"label":"+6 months","value":"+15.5%"},{"label":"+12 months","value":"+15.0%"},{"label":"Silver +12 months","value":"+11.9%"}]},{"path":"/gold/fed-chairs/arthur-burns","title":"Gold during the Burns years at the Fed (1970–1978)","answer":"During Arthur Burns's years as Fed chair (1 Feb 1970 to 31 Jan 1978), gold rose 321.1%, from $38.00 to $160 a troy ounce, comparing the monthly averages of Jan 1971 and Dec 1977; silver rose 193.8%.","stats":[{"label":"Gold","value":"+321.1%","note":"$38.00 → $160"},{"label":"Silver","value":"+193.8%","note":"$1.60 → $4.70"},{"label":"Gold high","value":"$184","note":"Dec 1974"},{"label":"Gold low","value":"$39.00","note":"Feb 1971"}]},{"path":"/gold/fed-chairs/g-william-miller","title":"Gold during the Miller years at the Fed (1978–1979)","answer":"During G. William Miller's years as Fed chair (8 Mar 1978 to 6 Aug 1979), gold rose 65.7%, from $178 to $295 a troy ounce, comparing the monthly averages of Feb 1978 and Jul 1979; silver rose 82.0%.","stats":[{"label":"Gold","value":"+65.7%","note":"$178 → $295"},{"label":"Silver","value":"+82.0%","note":"$5.00 → $9.10"},{"label":"Gold high","value":"$295","note":"Jul 1979"},{"label":"Gold low","value":"$175","note":"Apr 1978"}]},{"path":"/gold/fed-chairs/paul-volcker","title":"Gold during the Volcker years at the Fed (1979–1987)","answer":"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%.","stats":[{"label":"Gold","value":"+52.9%","note":"$295 → $451"},{"label":"Silver","value":"-16.5%","note":"$9.10 → $7.60"},{"label":"Gold high","value":"$675","note":"Jan 1980"},{"label":"Gold low","value":"$295","note":"Jul 1979"}]},{"path":"/gold/fed-chairs/alan-greenspan","title":"Gold during the Greenspan years at the Fed (1987–2006)","answer":"During Alan Greenspan's years as Fed chair (11 Aug 1987 to 31 Jan 2006), gold rose 13.1%, from $451 to $510 a troy ounce, comparing the monthly averages of Jul 1987 and Dec 2005; silver rose 13.2%.","stats":[{"label":"Gold","value":"+13.1%","note":"$451 → $510"},{"label":"Silver","value":"+13.2%","note":"$7.60 → $8.60"},{"label":"Gold high","value":"$510","note":"Dec 2005"},{"label":"Gold low","value":"$256","note":"Jul 1999"}]},{"path":"/gold/fed-chairs/ben-bernanke","title":"Gold during the Bernanke years at the Fed (2006–2014)","answer":"During Ben Bernanke's years as Fed chair (1 Feb 2006 to 31 Jan 2014), gold rose 122.2%, from $550 to $1,222 a troy ounce, comparing the monthly averages of Jan 2006 and Dec 2013; silver rose 116.5%.","stats":[{"label":"Gold","value":"+122.2%","note":"$550 → $1,222"},{"label":"Silver","value":"+116.5%","note":"$9.10 → $19.70"},{"label":"Gold high","value":"$1,772","note":"Sep 2011"},{"label":"Gold low","value":"$550","note":"Jan 2006"}]},{"path":"/gold/fed-chairs/janet-yellen","title":"Gold during the Yellen years at the Fed (2014–2018)","answer":"During Janet Yellen's years as Fed chair (3 Feb 2014 to 3 Feb 2018), gold rose 7.0%, from $1,244 to $1,331 a troy ounce, comparing the monthly averages of Jan 2014 and Jan 2018; silver fell 14.1%.","stats":[{"label":"Gold","value":"+7.0%","note":"$1,244 → $1,331"},{"label":"Silver","value":"-14.1%","note":"$19.90 → $17.10"},{"label":"Gold high","value":"$1,340","note":"Aug 2016"},{"label":"Gold low","value":"$1,076","note":"Dec 2015"}]},{"path":"/gold/fed-chairs/jerome-powell","title":"Gold during the Powell years at the Fed (2018–2026)","answer":"During Jerome Powell's years as Fed chair (5 Feb 2018 to 22 May 2026), gold rose 254.7%, from $1,331 to $4,721 a troy ounce, comparing the monthly averages of Jan 2018 and Apr 2026; silver rose 343.9%.","stats":[{"label":"Gold","value":"+254.7%","note":"$1,331 → $4,721"},{"label":"Silver","value":"+343.9%","note":"$17.10 → $75.90"},{"label":"Gold high","value":"$5,020","note":"Feb 2026"},{"label":"Gold low","value":"$1,198","note":"Sep 2018"}]},{"path":"/gold/fed-chairs/kevin-warsh","title":"Gold during the Warsh years at the Fed (2026–)","answer":"During Kevin Warsh's years as Fed chair (22 May 2026 to the present), gold fell 13.1%, from $4,721 to $4,104 a troy ounce, comparing the monthly averages of Apr 2026 and Oct 2026; silver fell 24.8%.","stats":[{"label":"Gold","value":"-13.1%","note":"$4,721 → $4,104"},{"label":"Silver","value":"-24.8%","note":"$75.90 → $57.08"},{"label":"Gold high","value":"$4,721","note":"Apr 2026"},{"label":"Gold low","value":"$4,073","note":"Jul 2026"}]},{"path":"/learn/inflation-high","title":"How high inflation impacts gold","answer":"When prices rise fast, cash and bonds lose buying power, so gold, which pays no interest, costs less to hold by comparison.","stats":[]},{"path":"/learn/yields-negative","title":"How negative real yields impact gold","answer":"A real yield is the return on a 10-year Treasury after inflation; below zero, a bond holder loses buying power, so gold's lack of interest costs nothing by comparison.","stats":[]},{"path":"/learn/dollar-strong","title":"How a strong dollar impacts gold","answer":"Gold is priced in dollars, so a stronger dollar makes an ounce cost more in other currencies, which can thin demand from buyers outside the U.S.","stats":[]},{"path":"/learn/event-fomc","title":"How FOMC rate decisions impact gold","answer":"At each decision the FOMC sets a target for the overnight rate banks charge each other, and other short-term rates follow it.","stats":[]},{"path":"/learn/event-cpi","title":"How CPI releases impact gold","answer":"The CPI report measures how fast consumer prices rose over the past 12 months.","stats":[]},{"path":"/learn/event-jobs","title":"How jobs reports impact gold","answer":"The Employment Situation report gives the unemployment rate and payroll counts for the month before.","stats":[]},{"path":"/learn/event-gdp","title":"How GDP releases impact gold","answer":"The GDP advance estimate is the first official reading of how fast the U.S.","stats":[]},{"path":"/learn/event-election","title":"How U.S. elections impact gold","answer":"Elections decide who sets taxes, spending and trade policy, which can move the dollar and interest rates and, through them, gold.","stats":[]},{"path":"/learn/policy-qe","title":"How QE impacts gold","answer":"Quantitative easing, or QE, is when the Federal Reserve creates money to buy bonds, pushing long-term interest rates down when cutting its policy rate is not enough.","stats":[]},{"path":"/learn/policy-qt","title":"How QT impacts gold","answer":"Quantitative tightening, or QT, is QE in reverse: the Federal Reserve lets the bonds it holds mature without replacing them, so its balance sheet shrinks.","stats":[]},{"path":"/learn/policy-cuts","title":"How rate-cut cycles impact gold","answer":"A rate-cut cycle runs from the Fed's first cut to its last in the same direction.","stats":[]},{"path":"/learn/policy-hikes","title":"How rate-hike cycles impact gold","answer":"A rate-hike cycle runs from the Fed's first increase to its last in the same direction.","stats":[]},{"path":"/learn/policy-recession","title":"How recessions impact gold","answer":"A recession is a broad fall in economic activity.","stats":[]},{"path":"/learn/policy-tariffs","title":"How tariff shocks impact gold","answer":"A tariff is a tax on imports.","stats":[]},{"path":"/learn/policy-debtceiling","title":"How debt-ceiling standoffs impact gold","answer":"The debt ceiling is the legal limit on U.S.","stats":[]}]}