Mint, sets the price of gold at L3.17. Per troy ounce in 1717, and it stayed pretty much the same for two hundred years until 1914. Since the rise in the price of gold over time is a reflection of the continued loss of purchasing power of the US dollar, it cannot be expected to exceed previous price peaks if adjusted for inflation. Interactive chart with historical data on the real (inflation-adjusted) prices of gold per ounce up to 1915. The only factor that is probably preventing the price of gold from coinciding with previous price peaks is that the overall effects of Federal Reserve inflation continue to have less and less impact. In 1968, a two-tier price structure was established, and in 1975, the Live Gold Price was allowed to fluctuate. It is measured in troy ounces and the Live Gold Price is generally indicated in terms of the cost of a troy ounce. 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.
The price of an ounce of gold remained completely stable and in line with the gold standard at all times.
