Distance from the record
This close sat 4.98% 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 2 September 2004, not the current price.See today's gold price (11 September 2026)
Gold falls 3.0% in a single session
Gold closed at $406.00 per troy ounce on 2 September 2004, down $12.70 (3.03%) from the previous close of $418.70.
Notable session: moved more than 3% in a session.
Gold lost 3.03% 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 4.98% 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 $373.20, making this a +8.79% move year on year.
Figures in this section are shown in USD, independent of the currency selected above.
Gold closed at $406.00 per troy ounce on 2 September 2004. That is $12.70 lower than the previous close of $418.70, a move of -3.03%.
The gold price fell on 2 September 2004, losing $12.70 (3.03%) against the previous session's close of $418.70.
At $406.00 per troy ounce, one gram of pure gold was worth about $13.05 on 2 September 2004. A troy ounce is 31.1034768 grams.
Scrap value follows purity, so on 2 September 2004 18k gold was worth about $9.79 per gram and 14k about $7.61 per gram, against $13.05 for pure 24k. These are melt values before any dealer margin.
The gold-to-silver ratio closed at about 60.0 on 2 September 2004, meaning one ounce of gold was worth roughly 60.0 ounces of silver.
It closed 4.98% below the highest close on record up to that date, which was set on 2004-03-31.