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State Economic Council

State Economic Council

The State Economic Council is responsible for increasing economic development of the state by collecting statistics and performing analysis on the labor force, workforce and employer demographics, generational trends, etc.
The information on this page is also available via the API.

Gold Prices in London 1950-2008 (Monthly)

Monthly gold prices (USD) in London from Bundesbank.

General: 1 ounce of fine gold = 31.1034768g.

Method of calculation:

  • Since 1 April 1968, calculated from the daily morning fixing;
  • From January 1950 to 21 March 1954, calculated using the Bank of England's gold purchasing price (1 ounce of fine = pound 12.40) in connection with the average exchange rate for the pound in New York (up to the end of 1952; source: Federal Reserve Bulletin) and, from January 1953, midpoint exchange rates for the US dollar in London (source: Financial Times (FT)).
  • From 22 March 1954 to December 1959, calculated using the fixing price for gold bars of approx. 12 1/2 kg and 995/1000 fineness and over (so-called standard bars) according to data from Metallgesellschaft AG, Frankfurt am Main, in connection with the average midpoint exchange rates for the US dollar in London (source: FT).
  • From January 1960 to 14 March 1968, average fixing price for standard bars as specified in the Bank of England's Quarterly Bulletin.
  • On 15 March 1968, fixing price suspended. Gold market split into an official (reserved for central banks) and a free market as a result of the Washington Communique of 17 March 1968. Gold trading suspended from 18 to 29 March 1968.
  • Sources for daily prices: April 1968 - March 1974: FT; April 1974 - December 1980: Samuel Montagu & Co. Ltd.; January 1981 - December 2005: FT; January 2006 - present: Reuters.
  • Comment on 1968-03: Average from 1 to 14 March 1968.

License: PDDL (Source indicates no restrictions on data).

Additional Information

FieldValue
PublisherState Economic Council
Identifier5dc1cfcf-8028-476c-a020-f58ec6dd621c
Issued2013-02-10
Last Update2019-06-06
ContactGray, Stefanie
Contact E-mailmailto:[email protected]
Public Access Levelpublic