Distance from the record
This close sat 4.84% below the highest gold close recorded up to that date, set on 2004-03-31.
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This page is a historical record of the gold price in 16 July 2004, not the current price.See today's gold price (11 September 2026)
Gold closed at $406.60 per troy ounce on 16 July 2004, up $2.400 (0.59%) from the previous close of $404.20.
This close sat 4.84% below the highest gold close recorded up to that date, set on 2004-03-31.
Metal value only, before dealer margins and fabrication.
Twelve months earlier gold traded around $343.10, making this a +18.51% move year on year.
Figures in this section are shown in USD, independent of the currency selected above.
Gold closed at $406.60 per troy ounce on 16 July 2004. That is $2.40 higher than the previous close of $404.20, a move of 0.59%.
The gold price rose on 16 July 2004, gaining $2.40 (0.59%) against the previous session's close of $404.20.
At $406.60 per troy ounce, one gram of pure gold was worth about $13.07 on 16 July 2004. A troy ounce is 31.1034768 grams.
Scrap value follows purity, so on 16 July 2004 18k gold was worth about $9.80 per gram and 14k about $7.63 per gram, against $13.07 for pure 24k. These are melt values before any dealer margin.
The gold-to-silver ratio closed at about 60.6 on 16 July 2004, meaning one ounce of gold was worth roughly 60.6 ounces of silver.
A month before 16 July 2004, gold was around $384.60 per troy ounce, so the close of $406.60 is a gain of 5.7% over the month.
A year before 16 July 2004, gold was around $343.10 per troy ounce. The close of $406.60 therefore represents a rise of 18.5% over twelve months.
It closed 4.84% below the highest close on record up to that date, which was set on 2004-03-31.