Gold Price History · Bretton Woods
1948 in context · real value, 1928–1968
In 1948, gold averaged $35 an ounce — about $468 in today's money. That was up 0.0% on the year in nominal terms (−7.2% after inflation). Under the Bretton Woods system the price was fixed by treaty at $35 an ounce, so the nominal figure held steady — but inflation quietly eroded gold’s real value year after year.
To see 1948 in the full sweep of the gold price, explore the 768-year ribbon, or find out what a 1948 gold investment would be worth today on the gold calculator.
Run the numbers across gold, stocks, housing, and bonds — adjusted for inflation.
Calculate 1948 →Value at year-end of $10,000 invested on 1 January 1948.
Annual-average basis. Gold: Officer & Williamson; S&P 500 & Treasuries: Damodaran (NYU); housing: Shiller; CPI: BLS. Methodology →
Sources. Gold price: Officer & Williamson, The Price of Gold, 1257–Present (annual average); inflation adjustment by US CPI (BLS / Officer & Williamson). Asset comparison from the calculator dataset. Figures are annual averages. Full methodology →