Part of what I was studying was the prospect of a gold standard for the US currency similar to that supported by Ron Paul and other Austrian economists. See the effect of countries that abandoned the gold standard in 1971, see the effects of world wars on the Gold Price Per Ounce. With the following 10 charts of the price of gold per year, you can determine what the Gold Price Per Ounce was in US dollars for any year you are researching over the past century. The price of bullion is constantly changing and the Gold Price Per Ounce can suddenly fall or rise dramatically due to economic problems. One of the main arguments I've heard against the measure is that the value of gold has fluctuated too much in the past to make it a reliable standard today.
If you want to take a closer look at the dramatic rise in gold prices, see the chart below. The Chinese and Indian governments have started buying gold in large quantities, leading some to think that gold prices will skyrocket again. Since then, the price of gold has increased more frequently and, from 2002 to today, its price has more than quadrupled. It is measured in troy ounces and the price of gold is generally indicated in terms of the cost of a troy ounce.
In 1968, a two-tier price structure was established, and in 1975, the price of gold was allowed to fluctuate. See how the price of gold has changed over time and how it also changes in each currency during periods of inflation and deflation. The price of an ounce of gold remained completely stable and in line with the gold standard at all times. To determine the true value of gold in US dollars, simply take the total world money supply of the United States and divide it by the number of ounces of gold available for purchase.
We have the history of the price of gold in British pounds, dollars and euros (euros only date back to 2000).
