Under water: gold needed 28 years to reach the next high
Shortfall of the gold price against its most recent all-time high since 1968: after the January 1980 high it took until January 2008 — around 28 years — for that level to be reached again; the deepest shortfall was around 70 per cent.
Under water: gold needed 28 years to reach the next high
Price charts show the ascent. This one shows the opposite: the shortfall against the most recent peak. The area is deep whenever a buyer from back then was still in the red — after the 1980 high that was the case for 27.9 years.
Daily closing prices in US dollars, 1968–2026, calculated from our own price data. The shortfall always refers to the highest close reached up to that point. After the high of 21/01/1980 it took until 03/01/2008 for that level to be reached again. Calculated without adjusting for inflation and in dollars; in GBP and in real terms the picture looks different. The reference is the daily close — charts that use intraday highs therefore show a somewhat larger shortfall.
Where the numbers come from
This chart is calculated from our own price recordings. It is recalculated twice a day — after the daily close and after the London reference price at 16:30.
- our own measurement Our own daily closing prices for the metals — new values every trading day
The Chart view shows the most recently calculated state. The Image version — including the one for sharing and downloading — is a still image generated nightly at 02:30. Last generated on 09/11/2026 at 03:00.
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