How gold performed under George H. W. Bush (1989–1993)
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%.
- Gold
- -20.0%
- $419 → $335
- Silver
- -39.3%
- $6.10 → $3.70
- Gold high
- $419
- Dec 1988
- Gold low
- $335
- Nov 1992
In context
George H. W. Bush's 4 years rank 10th of 11 presidencies since 1971 for gold. Silver did worse than gold, falling 39.3%, from $6.10 to $3.70.
Gold's monthly average peaked at $419 in Dec 1988 and was lowest at $335 in Nov 1992 during the term.
That is a loss of about 5.4% a year, against 8.7% a year for gold across the whole record.
Under Ronald Reagan, the presidency before, gold fell 22.1%.
Under Bill Clinton, the presidency after, gold fell 19.1%.
Republican presidencies since 1971: 7 of 11.
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