Love Over Gold, Dire Straits' fourth studio album, was released in September 1982. It contains only five tracks, including the over 14-minute-long, cult classic "Telegraph Road." The album's lead single, "Private Investigations," reached number two on the UK charts despite its length. The album's second single, "Industrial Disease," was however more successful in other countries.

Knopfler also wrote the song “Private Dancer” for that album but eventually opted not to include it, sensing that a female voice would serve the song better. His decision to give it to Tina Turner would play a major part in her career revival in 1984.

Within six weeks of its release, Love Over Gold sold 2 million copies. Around the same time, Pick Withers left the band, and Terry Williams became the new drummer.

The Love Over Gold Tour 1982-1983, began on November 30, 1982, and lasted eight months, during which the band played over ninety shows in sixty-one cities. The band visited Europe, Australia, New Zealand, and Japan.