Distance from the record
This close sat 7.79% 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 May 2004, not the current price.See today's gold price (11 September 2026)
Gold closed at $394.00 per troy ounce on 28 May 2004, down $0.900 (0.23%) from the previous close of $394.90.
This close sat 7.79% 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 $365.20, making this a +7.89% move year on year.
Figures in this section are shown in USD, independent of the currency selected above.
Gold closed at $394.00 per troy ounce on 28 May 2004. That is $0.90 lower than the previous close of $394.90, a move of -0.23%.
The gold price fell on 28 May 2004, losing $0.90 (0.23%) against the previous session's close of $394.90.
At $394.00 per troy ounce, one gram of pure gold was worth about $12.67 on 28 May 2004. A troy ounce is 31.1034768 grams.
Scrap value follows purity, so on 28 May 2004 18k gold was worth about $9.50 per gram and 14k about $7.39 per gram, against $12.67 for pure 24k. These are melt values before any dealer margin.
The gold-to-silver ratio closed at about 64.5 on 28 May 2004, meaning one ounce of gold was worth roughly 64.5 ounces of silver.
A week before 28 May 2004, gold was around $384.80 per troy ounce, so the close of $394.00 is a gain of 2.4% over the week.
It closed 7.79% below the highest close on record up to that date, which was set on 2004-03-31.