Distance from the record
This close sat 6.54% below the highest gold close recorded up to that date, set on 2004-01-09.
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This page is a historical record of the gold price in 29 January 2004, not the current price.See today's gold price (11 September 2026)
Lowest closing price since 26 November 2003
Gold closed at $398.50 per troy ounce on 29 January 2004, down $16.00 (3.86%) from the previous close of $414.50.
Notable session: lowest close of the month; moved more than 3% in a session.
Gold lost 3.86% 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 6.54% below the highest gold close recorded up to that date, set on 2004-01-09.
Metal value only, before dealer margins and fabrication.
Twelve months earlier gold traded around $366.30, making this a +8.79% move year on year.
Figures in this section are shown in USD, independent of the currency selected above.
Gold closed at $398.50 per troy ounce on 29 January 2004. That is $16.00 lower than the previous close of $414.50, a move of -3.86%.
The gold price fell on 29 January 2004, losing $16.00 (3.86%) against the previous session's close of $414.50.
At $398.50 per troy ounce, one gram of pure gold was worth about $12.81 on 29 January 2004. A troy ounce is 31.1034768 grams.
Scrap value follows purity, so on 29 January 2004 18k gold was worth about $9.61 per gram and 14k about $7.47 per gram, against $12.81 for pure 24k. These are melt values before any dealer margin.
The gold-to-silver ratio closed at about 64.0 on 29 January 2004, meaning one ounce of gold was worth roughly 64.0 ounces of silver.
A week before 29 January 2004, gold was around $410.00 per troy ounce, so the close of $398.50 is a loss of 2.8% over the week.
It closed 6.54% below the highest close on record up to that date, which was set on 2004-01-09.