Distance from the record
This close sat 12.56% 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 29 May 2008, not the current price.See today's gold price (11 September 2026)
Lowest closing price since 14 May 2008
Gold closed at $877.20 per troy ounce on 29 May 2008, down $23.30 (2.59%) from the previous close of $900.50.
Gold lost 2.59% 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 12.56% below the highest gold close recorded up to that date, set on 2008-03-18.
Metal value only, before dealer margins and fabrication.
Twelve months earlier gold traded around $657.10, making this a +33.50% move year on year.
Figures in this section are shown in USD, independent of the currency selected above.
Gold closed at $877.20 per troy ounce on 29 May 2008. That is $23.30 lower than the previous close of $900.50, a move of -2.59%.
The gold price fell on 29 May 2008, losing $23.30 (2.59%) against the previous session's close of $900.50.
At $877.20 per troy ounce, one gram of pure gold was worth about $28.20 on 29 May 2008. A troy ounce is 31.1034768 grams.
Scrap value follows purity, so on 29 May 2008 18k gold was worth about $21.15 per gram and 14k about $16.45 per gram, against $28.20 for pure 24k. These are melt values before any dealer margin.
The gold-to-silver ratio closed at about 53.2 on 29 May 2008, meaning one ounce of gold was worth roughly 53.2 ounces of silver.
A week before 29 May 2008, gold was around $917.90 per troy ounce, so the close of $877.20 is a loss of 4.4% over the week.
A year before 29 May 2008, gold was around $657.10 per troy ounce. The close of $877.20 therefore represents a rise of 33.5% over twelve months.
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 12.56% below the highest close on record up to that date, which was set on 2008-03-18.