Distance from the record
This close sat 20.11% below the highest gold close recorded up to that date, set on 2008-03-18.
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This page is a historical record of the gold price in 16 October 2008, not the current price.See today's gold price (11 September 2026)
Lowest closing price since 1 October 2008
Gold closed at $801.50 per troy ounce on 16 October 2008, down $34.00 (4.07%) from the previous close of $835.50.
Notable session: moved more than 3% in a session.
Gold lost 4.07% in one session, far more than a normal day's range. Falls this size rarely happen in isolation — the days on either side give the move its context.
This close sat 20.11% below the highest gold close recorded up to that date, set on 2008-03-18.
Metal value only, before dealer margins and fabrication.
Twelve months earlier gold traded around $757.00, making this a +5.88% move year on year.
Figures in this section are shown in USD, independent of the currency selected above.
Gold closed at $801.50 per troy ounce on 16 October 2008. That is $34.00 lower than the previous close of $835.50, a move of -4.07%.
The gold price fell on 16 October 2008, losing $34.00 (4.07%) against the previous session's close of $835.50.
At $801.50 per troy ounce, one gram of pure gold was worth about $25.77 on 16 October 2008. A troy ounce is 31.1034768 grams.
Scrap value follows purity, so on 16 October 2008 18k gold was worth about $19.33 per gram and 14k about $15.03 per gram, against $25.77 for pure 24k. These are melt values before any dealer margin.
The gold-to-silver ratio closed at about 83.4 on 16 October 2008, meaning one ounce of gold was worth roughly 83.4 ounces of silver.
A week before 16 October 2008, gold was around $883.10 per troy ounce, so the close of $801.50 is a loss of 9.2% over the week.
This close was session 6 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 20.11% below the highest close on record up to that date, which was set on 2008-03-18.