GoldSilverHQ
gold—silver—

1968

Two-tier gold market

The London Gold Pool collapses in March. The official price stays for central banks. The free price can move away from $35.

United States double eagle of 1907.
United States double eagle, 1907. Not a photograph of the Gold Pool, and not a coin of 1968.Public domain.

In March 1968 the London Gold Pool collapsed. The effort to hold the free-market price near $35 stopped. A two-tier market followed: an official price for central banks, and a free price that could move away from $35.

The foreign official window at the Treasury is still open. It closes on 15 August 1971. Private Americans are still barred from monetary gold.

Nixon shock 1971 →