Historical Archive · XAU/USD · Wednesday
Gold Price on October 28, 1981
International gold spot price for Wednesday, October 28, 1981— sourced from gold-api.com's continuous historical archive of London gold fixings.
XAU / USD
$430.80
per troy ounce
USD / Gram
$13.851
1 gram
USD / Tola
$161.55
11.664 grams
Price action on October 28, 1981
1-day move
vs prior session
7-day move
rolling week
30-day move
rolling month
YTD
since 1 Jan 1981
Calendar position
Day 301 of 365
Trading day
256th of 311
Position in 1981's range
18% (low $391.30 → high $612.00)
Surrounding ±15 trading days
All unit conversions for October 28, 1981
| Unit | Weight | USD price |
|---|---|---|
| Troy ounce | 31.1035 g | $430.80 |
| Gram | 1.0000 g | $13.851 |
| 10 grams | 10 g | $138.51 |
| Kilogram | 1,000 g | $13,850.53 |
| Tola | 11.664 g | $161.55 |
| Pavan | ≈ 7.776 g | $107.70 |
Why no country breakdown? Reliable historical exchange-rate data only extends back to 1 January 1990. For dates between 1970 and 1989 we publish the verified XAU/USD price — the same global benchmark used by central banks and bullion dealers — but local-currency conversions are not provided to avoid showing inaccurate historical figures. For dates from 1990 onwards, full country tables (PKR, INR, AED, SAR, GBP, EUR and 100+ more) are available.
Gold in 1981 — at a glance
Approximate price band
$391 – $599 / troy oz
First full year of the new Fed regime. Volcker pushed the Fed funds rate above 19%, crushing inflation expectations. Gold fell about 30% from its peak as real yields surged.
Key events that year
- —
Disinflation begins
US prime rate hits 21.5%. Real yields are extremely positive — devastating for gold's relative attractiveness.
The 1970s — gold's break from fiat
On 15 August 1971 President Nixon ended USD convertibility to gold, dismantling the Bretton Woods system. Free-floating gold rose from a Bretton-Woods price of $35/oz to a January 1980 nominal peak near $850/oz. The decade was defined by stagflation, two oil shocks (1973–74 and 1979), Soviet–US tensions, and double-digit US inflation — an environment in which gold became the textbook inflation hedge.
Frequently asked questions
What was the gold price on October 28, 1981?
On October 28, 1981, the international XAU/USD spot price closed at approximately $430.80 per troy ounce, equivalent to $13.851 per gram and $161.55 per tola. Source: gold-api.com historical archives.
Why are local-currency conversions not shown for this date?
Reliable historical exchange-rate data only goes back to 1 January 1990. For dates between 1970 and 1989 we display the international XAU/USD spot price (which is the global benchmark) but cannot accurately convert to local currencies (PKR, INR, AED, etc.) without trustworthy historical FX data. For dates from 1990 onwards, country-by-country price tables are available on each daily page.
What was the gold price band in 1981?
In 1981, gold traded approximately in the $391 – $599 range. First full year of the new Fed regime. Volcker pushed the Fed funds rate above 19%, crushing inflation expectations. Gold fell about 30% from its peak as real yields surged.
How does Goldify Pro source this data?
Daily XAU/USD spot prices for 1970–present are sourced from gold-api.com, which maintains a continuous historical archive of London gold-fix prices. We display the price at face value with no editorial adjustments.
Was 1970–1989 a good period to own gold?
Gold was an outstanding investment from 1971–1980 (rising from $35 to $850, a 24× return) and a poor one from 1980–1985 (falling to $284). The 1980s as a whole saw gold underperform stocks. The 50-year history page covers the full picture.
Other historical years
Interactive Chart
Full XAU/USD chart since 1970
50-Year History
Full half-century gold story
Live Gold Rates
Today's prices for 100+ countries
Gold Calculators
Tola, gram, karat, polish
Gold in 1981
All ${year} daily prices
Gold Reference Guide
Karats, purity, weight units
Gold price on October 28, 1981: detailed analysis
October 28, 1981 fell on a Wednesday — the 256th trading session of 311 for 1981. The international XAU/USD spot price closed at $430.80/oz, equivalent to $13.851/gram and $161.55/tola. This represents the London gold fix benchmark in US dollars; physical gold in any country at the time was sold at this rate plus local taxes, dealer premiums, and currency-conversion costs.
At this point in 1981, gold was -26.96% year-to-date versus the 1 January open of $589.80/oz. The 1-day move from the prior session was +0.80%. Across the trailing trading week the price moved -0.69%. Over the prior ~30 trading sessions, gold moved -5.11%.
Within 1981's observed range — a low of $391.30/oz and a high of $612.00/oz — this date sat at roughly the 18th percentile. That puts the day near the bottom of the year's price band.
Historical archives like this one are useful for several purposes: settling estate valuations and inheritance calculations involving gold purchased decades ago, researching the long-term performance of gold as an asset class, understanding the impact of major historical events (oil shocks, Cold War flashpoints, monetary policy shifts), and for academic study of the post–Bretton-Woods era.
We display data with no editorial markup. The XAU/USD price for this date comes from gold-api.com, which maintains continuous London-fix records back to the start of free-floating gold in 1971. Per-gram and per-tola figures are calculated using the fixed conversion of 1 troy ounce = 31.1035 grams, and 1 tola = 11.664 grams.
For full country-by-country price tables (24K, 22K, 21K, 18K per tola/gram in 100+ local currencies), visit any date from 1990 onwards. For an interactive chart of the entire gold-price history since 1970, see our 50-year analysis page. And for today's live rate in your country, check live rates here.
Disclaimer: This page is for informational and historical-research purposes only and does not constitute financial advice. Prices shown are international XAU/USD spot reference figures; actual physical-market prices in any country at the time may have varied due to local taxes, premiums, and currency-conversion factors.