How recessions impact gold
A recession is a broad fall in economic activity.
The record has seven since 1971, from 1973 to 1975 through the two-month slump of 2020.
Gold ended higher than at the peak month in five of the seven, with a median change of +4.9%. It rose most in 1973 to 1975, about 87%.
Silver ended higher in three of the seven, with a median change of −6.8%.
An explainer from the chart's Learn library. What the record did, not a forecast.
Updated Oct 2026 · record through Oct 2026