As a commodity, gold is controlled by the market, and the sale price often fluctuates. However, throughout history, you can see periods where the price stabilizes. For example from 1934 - 1939, the price of gold is steady at $35.00. The rate remained constant because of the institution of the Gold Reserves Act in the United States. This legislation increased the price per troy ounce and devalued the gold dollar. 

Historically, countries printed paper money that corresponded with their value in gold. This was known as the gold standard. In 1944, the US dollar became the official global currency with the introduction of the Bretton-Woods Agreement. The signing of this agreement marked the beginning of the move away from the gold standard. The break from the gold standard was completed in 1976 when American President Richard Nixon separated the value of the dollar from the value of gold.

Below is a list of the price of gold from the discovery of gold in Red Lake to 2018. Note that all prices listed are in USD. 
  • 1925: $20.67
  • 1926: $20.67
  • 1927: $20.67
  • 1928: $20.67
  • 1929: $20.67
  • 1930: $20.67
  • 1931: $20.67
  • 1932: $20.67
  • 1933: $32.32
  • 1934: $35.00
  • 1935: $35.00
  • 1936: $35.00
  • 1937: $35.00
  • 1938: $35.00
  • 1939: $35.00
  • 1940: $34.50
  • 1941: $35.50
  • 1942: $35.50
  • 1943: $36.50
  • 1944: $36.25
  • 1945: $37.25
  • 1946: $38.25
  • 1947: $43.00
  • 1948: $42.00
  • 1949: $40.50
  • 1950: $40.25
  • 1951: $40.00
  • 1952: $38.70
  • 1953: $35.50
  • 1954: $35.25
  • 1955: $35.15​
  • 1956: $35.20
  • 1957: $35.25
  • 1958: $35.25
  • 1959: $35.25
  • 1960: $36.50
  • 1961: $35.50
  • 1962: $35.35
  • 1963: $35.25
  • 1964: $35.35
  • 1965: $35.50
  • 1966: $35.40
  • 1967: $35.50
  • 1968: $43.50
  • 1969: $41.00
  • 1970: $38.90
  • 1971: $44.60
  • 1972: $63.84
  • 1973: $106.48
  • 1974: $183.77
  • 1975: $139.29
  • 1976: $133.77
  • 1977: $161.10
  • 1978: $208.10
  • 1979: $459.00
  • 1980: $594.90
  • 1981: $400.00
  • 1982: $447.00
  • 1983: $380.00
  • 1984: $308.00
  • 1985: $327.00
  • 1986: $390.90​
  • 1987: $486.50
  • 1988: $410.15
  • 1989: $401.00
  • 1990: $386.20
  • 1991: $353.15
  • 1992: $333.00
  • 1993: $391.75
  • 1994: $383.25
  • 1995: $387.00
  • 1996: $369.00
  • 1997: $287.05
  • 1998: $288.70
  • 1999: $290.25
  • 2000: $272.65
  • 2001: $276.50
  • 2002: $342.75
  • 2003: $417.25
  • 2004: $435.60
  • 2005: $513.00
  • 2006: $635.70
  • 2007: $836.50
  • 2008: $869.75
  • 2009: $1,087.50
  • 2010: $1,420.25
  • 2011: $1,531.00
  • 2012: $1,664.00
  • 2013: $1,204.50
  • 2014: $1,199.25
  • 2015: $1,060.00
  • 2016: $1,250.74
  • 2017: $1,257.12
  • 2018: $1,268.49​
  • 2019: $1,392.60
 Source: Only Gold and Kitco
What do you think this year will bring?