Distance from the record
This close sat 28.90% 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 23 October 2008, not the current price.See today's gold price (11 September 2026)
Lowest closing price since 14 September 2007
Gold closed at $713.30 per troy ounce on 23 October 2008, down $20.00 (2.73%) from the previous close of $733.30.
Notable session: lowest close of the month.
Gold lost 2.73% 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 28.90% below the highest gold close recorded up to that date, set on 2008-03-18.
One of the ten lowest gold closes of that year, ranking 250 of 251 sessions.
Metal value only, before dealer margins and fabrication.
Twelve months earlier gold traded around $759.00, making this a -6.02% move year on year.
Figures in this section are shown in USD, independent of the currency selected above.
Gold closed at $713.30 per troy ounce on 23 October 2008. That is $20.00 lower than the previous close of $733.30, a move of -2.73%.
The gold price fell on 23 October 2008, losing $20.00 (2.73%) against the previous session's close of $733.30.
At $713.30 per troy ounce, one gram of pure gold was worth about $22.93 on 23 October 2008. A troy ounce is 31.1034768 grams.
Scrap value follows purity, so on 23 October 2008 18k gold was worth about $17.20 per gram and 14k about $13.38 per gram, against $22.93 for pure 24k. These are melt values before any dealer margin.
The gold-to-silver ratio closed at about 75.1 on 23 October 2008, meaning one ounce of gold was worth roughly 75.1 ounces of silver.
A week before 23 October 2008, gold was around $801.50 per troy ounce, so the close of $713.30 is a loss of 11.0% over the week.
A month before 23 October 2008, gold was around $885.50 per troy ounce, so the close of $713.30 is a loss of 19.4% over the month.
This close was session 3 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 28.90% below the highest close on record up to that date, which was set on 2008-03-18.