What $100 in 2024 was worth — measured in gold

The price of gold didn't get more expensive. The value of the Australian dollar fell.

37.2%

of the Australian dollar's value, gone — measured in gold, since 2024.
It now takes 1.6× more dollars to buy the same ounce.

In 2024, $100 bought 0.03 oz of gold at $3,618/oz. Held as metal, that same money is worth $159 at today's gold price of $5,761/oz (spot as of 2026-08-02).

Same $100. Three rulers.

Measure	$100 from 2024, today	Multiple
Official story — AU CPI (ABS via FRED)	$101	1.0×
Money created — M3 broad money	$∞	∞×
In gold — honest weight, valued today	$159	1.6×

The gap between 1.0× (CPI) and ∞× (M3) is official inflation understating the money actually created. The gap between ∞× and 1.6× (gold) is the flight to hard money — gold outrunning even the printing.

2024 in the fiat story

The RBA joined the QE club: bond purchases and the Term Funding Facility. The A$ gold price more than doubled from its 2019 level to successive record highs. Measured in gold, the Australian dollar's post-2020 record is the worst stretch in the floated era.

Try your own numbers

The In Gold calculator runs any amount and any year — AUD from 1971, or see 2024 in USD.

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Method. Gold weight = amount ÷ the gold price of that year; "today" figures rebase the same amount by CPI, money supply, and gold spot. Deterministic — no estimates, no models, no AI in the number path. Annual averages. Sources: FRED CPIAUCNS, FRED M2SL, MeasuringWorth, GoldAPI live spot. Not financial advice. In Gold — the calculator · API
1971 · The Australian story · Methodology · FAQ · Glossary · USD years · AUD years