Distance from the record
This close sat 8.96% 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 28 July 2004, not the current price.See today's gold price (11 September 2026)
Gold closed at $389.00 per troy ounce on 28 July 2004, up $2.000 (0.52%) from the previous close of $387.00.
This close sat 8.96% 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 $364.80, making this a +6.63% move year on year.
Figures in this section are shown in USD, independent of the currency selected above.
Gold closed at $389.00 per troy ounce on 28 July 2004. That is $2.00 higher than the previous close of $387.00, a move of 0.52%.
The gold price rose on 28 July 2004, gaining $2.00 (0.52%) against the previous session's close of $387.00.
At $389.00 per troy ounce, one gram of pure gold was worth about $12.51 on 28 July 2004. A troy ounce is 31.1034768 grams.
Scrap value follows purity, so on 28 July 2004 18k gold was worth about $9.38 per gram and 14k about $7.30 per gram, against $12.51 for pure 24k. These are melt values before any dealer margin.
The gold-to-silver ratio closed at about 61.1 on 28 July 2004, meaning one ounce of gold was worth roughly 61.1 ounces of silver.
A week before 28 July 2004, gold was around $397.10 per troy ounce, so the close of $389.00 is a loss of 2.0% over the week.
It closed 8.96% below the highest close on record up to that date, which was set on 2004-03-31.