Distance from the record
This close sat 3.08% below the highest gold close recorded up to that date, set on 2020-08-06.
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This page is a historical record of the gold price in 16 May 2023, not the current price.See today's gold price (11 September 2026)
Lowest closing price since 1 May 2023
Gold closed at $1,988.40 per troy ounce on 16 May 2023, down $29.60 (1.47%) from the previous close of $2,018.00.
Gold moved the opposite way to the session before it. Single-day reversals are common and usually mean little on their own — what matters is whether the next few sessions follow.
This close sat 3.08% below the highest gold close recorded up to that date, set on 2020-08-06.
Metal value only, before dealer margins and fabrication.
Twelve months earlier gold traded around $1,813.50, making this a +9.64% move year on year.
Figures in this section are shown in USD, independent of the currency selected above.
Gold closed at $1,988.40 per troy ounce on 16 May 2023. That is $29.60 lower than the previous close of $2,018.00, a move of -1.47%.
The gold price fell on 16 May 2023, losing $29.60 (1.47%) against the previous session's close of $2,018.00.
At $1,988.40 per troy ounce, one gram of pure gold was worth about $63.93 on 16 May 2023. A troy ounce is 31.1034768 grams.
Scrap value follows purity, so on 16 May 2023 18k gold was worth about $47.95 per gram and 14k about $37.29 per gram, against $63.93 for pure 24k. These are melt values before any dealer margin.
The gold-to-silver ratio closed at about 83.8 on 16 May 2023, meaning one ounce of gold was worth roughly 83.8 ounces of silver.
A week before 16 May 2023, gold was around $2,036.20 per troy ounce, so the close of $1,988.40 is a loss of 2.3% over the week.
It closed 3.08% below the highest close on record up to that date, which was set on 2020-08-06.