Distance from the record
This close sat 8.61% 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 23 July 2004, not the current price.See today's gold price (11 September 2026)
Lowest closing price since 17 June 2004
Gold closed at $390.50 per troy ounce on 23 July 2004, down $4.700 (1.19%) from the previous close of $395.20.
This close extended a run of 5 consecutive sessions of losses. Runs are more informative than any one day inside them: they show direction holding rather than a single session's noise.
This close sat 8.61% 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 $358.60, making this a +8.90% move year on year.
Figures in this section are shown in USD, independent of the currency selected above.
Gold closed at $390.50 per troy ounce on 23 July 2004. That is $4.70 lower than the previous close of $395.20, a move of -1.19%.
The gold price fell on 23 July 2004, losing $4.70 (1.19%) against the previous session's close of $395.20.
At $390.50 per troy ounce, one gram of pure gold was worth about $12.55 on 23 July 2004. A troy ounce is 31.1034768 grams.
Scrap value follows purity, so on 23 July 2004 18k gold was worth about $9.42 per gram and 14k about $7.32 per gram, against $12.55 for pure 24k. These are melt values before any dealer margin.
The gold-to-silver ratio closed at about 61.7 on 23 July 2004, meaning one ounce of gold was worth roughly 61.7 ounces of silver.
A week before 23 July 2004, gold was around $406.60 per troy ounce, so the close of $390.50 is a loss of 4.0% over the week.
This close was session 5 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 8.61% below the highest close on record up to that date, which was set on 2004-03-31.