Distance from the record
This close sat 4.62% below the highest gold close recorded up to that date, set on 2004-01-09.
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This page is a historical record of the gold price in 16 January 2004, not the current price.See today's gold price (11 September 2026)
Lowest closing price since 1 January 2004
Gold closed at $406.70 per troy ounce on 16 January 2004, down $1.700 (0.42%) from the previous close of $408.40.
This close extended a run of 5 consecutive sessions of losses. Runs are more informative than any one day inside them: they show direction holding rather than a single session's noise.
This close sat 4.62% below the highest gold close recorded up to that date, set on 2004-01-09.
Metal value only, before dealer margins and fabrication.
Twelve months earlier gold traded around $357.70, making this a +13.70% move year on year.
Figures in this section are shown in USD, independent of the currency selected above.
Gold closed at $406.70 per troy ounce on 16 January 2004. That is $1.70 lower than the previous close of $408.40, a move of -0.42%.
The gold price fell on 16 January 2004, losing $1.70 (0.42%) against the previous session's close of $408.40.
At $406.70 per troy ounce, one gram of pure gold was worth about $13.08 on 16 January 2004. A troy ounce is 31.1034768 grams.
Scrap value follows purity, so on 16 January 2004 18k gold was worth about $9.81 per gram and 14k about $7.63 per gram, against $13.08 for pure 24k. These are melt values before any dealer margin.
The gold-to-silver ratio closed at about 64.3 on 16 January 2004, meaning one ounce of gold was worth roughly 64.3 ounces of silver.
A week before 16 January 2004, gold was around $426.40 per troy ounce, so the close of $406.70 is a loss of 4.6% over the week.
A year before 16 January 2004, gold was around $357.70 per troy ounce. The close of $406.70 therefore represents a rise of 13.7% over twelve months.
This close was session 5 of a consecutive run of losses. A run is counted by closes, so an intraday reversal that still closed in the same direction does not break it.
It closed 4.62% below the highest close on record up to that date, which was set on 2004-01-09.