Distance from the record
This close sat 18.19% below the highest gold close recorded up to that date, set on 2006-05-11.
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This page is a historical record of the gold price in 18 October 2006, not the current price.See today's gold price (11 September 2026)
Gold closed at $588.90 per troy ounce on 18 October 2006, down $0.800 (0.14%) from the previous close of $589.70.
Gold barely moved, closing within 0.14% of the previous session. Flat days are the majority of any price series and are most useful as the baseline the notable days are measured against.
This close sat 18.19% below the highest gold close recorded up to that date, set on 2006-05-11.
Metal value only, before dealer margins and fabrication.
Twelve months earlier gold traded around $472.10, making this a +24.74% move year on year.
Figures in this section are shown in USD, independent of the currency selected above.
Gold closed at $588.90 per troy ounce on 18 October 2006. That is $0.80 lower than the previous close of $589.70, a move of -0.14%.
The gold price fell on 18 October 2006, losing $0.80 (0.14%) against the previous session's close of $589.70.
At $588.90 per troy ounce, one gram of pure gold was worth about $18.93 on 18 October 2006. A troy ounce is 31.1034768 grams.
Scrap value follows purity, so on 18 October 2006 18k gold was worth about $14.20 per gram and 14k about $11.04 per gram, against $18.93 for pure 24k. These are melt values before any dealer margin.
The gold-to-silver ratio closed at about 50.1 on 18 October 2006, meaning one ounce of gold was worth roughly 50.1 ounces of silver.
A week before 18 October 2006, gold was around $572.30 per troy ounce, so the close of $588.90 is a gain of 2.9% over the week.
A year before 18 October 2006, gold was around $472.10 per troy ounce. The close of $588.90 therefore represents a rise of 24.7% over twelve months.
It closed 18.19% below the highest close on record up to that date, which was set on 2006-05-11.