Gold Price in 1998
MONTHLY AVERAGES, US DOLLARS PER TROY OUNCE.
The highest month of 1998 was April at $308. The lowest was August at $284. The 1998 average was −11.20% compared with the 1997 average ($331). From January to December the monthly average moved +1.04%.
Gold price by month, 1998
| Month | Average per oz | Change from prior month |
|---|---|---|
| January | $289 | 0.00% |
| February | $297 | +2.77% |
| March | $296 | −0.34% |
| April (high) | $308 | +4.05% |
| May | $299 | −2.92% |
| June | $292 | −2.34% |
| July | $293 | +0.34% |
| August (low) | $284 | −3.07% |
| September | $289 | +1.76% |
| October | $296 | +2.42% |
| November | $294 | −0.68% |
| December | $292 | −0.68% |
Each figure is the average of the daily prices in that month, so the high and low are the highest and lowest monthly averages, not the highest and lowest price on a single day.
1998 price in 2025 dollars
A $294 average in 1998 equals about $581 in 2025 dollars, using the consumer price index (CPI-U). For comparison, the gold price today is shown on the live gold price page.
Inflation data: U.S. Bureau of Labor Statistics, CPI-U all items, U.S. city average (series CUUR0000SA0), annual average, from the U.S. Bureau of Labor Statistics. The adjustment reflects general consumer prices only.
Gold price in other years
Quick answers
What was the price of gold in 1998?
The monthly average gold price in 1998 was $294 per troy ounce (the mean of the 12 monthly averages). The highest month was April at $308. The lowest was August at $284.
What was the gold price per gram in 1998?
$9.45 per gram on average in 1998, which is the ounce price divided by 31.1035.
What is the 1998 gold price in today's dollars?
Using the U.S. consumer price index (CPI-U), an average 1998 price of $294 equals about $581 in 2025 dollars. This only adjusts for general consumer prices. It says nothing about what gold was worth to a buyer at the time.
Where does this data come from?
Monthly averages are from the World Bank Commodity Price Data (the Pink Sheet), published under CC BY 4.0. Prices are monthly averages, not daily highs and lows, and the World Bank publishes them rounded.
Source: The World Bank, Commodity Price Data (The Pink Sheet), October 2026 release, CC BY 4.0. worldbank.org. Historical prices are for information, not a quote.