Highest so far that week
This was the strongest close of the week up to that point.
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This page is a historical record of the gold price in 24 October 2016, not the current price.See today's gold price (11 September 2026)
Gold closed at $1,262.00 per troy ounce on 24 October 2016, down $3.900 (0.31%) from the previous close of $1,265.90.
This was the strongest close of the week up to that point.
This close sat 33.18% below the highest gold close recorded up to that date, set on 2011-08-22.
Metal value only, before dealer margins and fabrication.
Twelve months earlier gold traded around $1,163.30, making this a +8.48% move year on year.
Figures in this section are shown in USD, independent of the currency selected above.
Gold closed at $1,262.00 per troy ounce on 24 October 2016. That is $3.90 lower than the previous close of $1,265.90, a move of -0.31%.
The gold price fell on 24 October 2016, losing $3.90 (0.31%) against the previous session's close of $1,265.90.
At $1,262.00 per troy ounce, one gram of pure gold was worth about $40.57 on 24 October 2016. A troy ounce is 31.1034768 grams.
Scrap value follows purity, so on 24 October 2016 18k gold was worth about $30.43 per gram and 14k about $23.67 per gram, against $40.57 for pure 24k. These are melt values before any dealer margin.
The gold-to-silver ratio closed at about 71.9 on 24 October 2016, meaning one ounce of gold was worth roughly 71.9 ounces of silver.
A month before 24 October 2016, gold was around $1,337.20 per troy ounce, so the close of $1,262.00 is a loss of 5.6% over the month.
It closed 33.18% below the highest close on record up to that date, which was set on 2011-08-22.