Distance from the record
This close sat 1.25% below the highest gold close recorded up to that date, set on 2003-01-06.
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This page is a historical record of the gold price in 7 January 2003, not the current price.See today's gold price (11 September 2026)
Gold closed at $347.30 per troy ounce on 7 January 2003, down $4.400 (1.25%) from the previous close of $351.70.
Gold moved the opposite way to the session before it. Single-day reversals are common and usually mean little on their own — what matters is whether the next few sessions follow.
This close sat 1.25% below the highest gold close recorded up to that date, set on 2003-01-06.
Metal value only, before dealer margins and fabrication.
Twelve months earlier gold traded around $278.60, making this a +24.66% move year on year.
Figures in this section are shown in USD, independent of the currency selected above.
Gold closed at $347.30 per troy ounce on 7 January 2003. That is $4.40 lower than the previous close of $351.70, a move of -1.25%.
The gold price fell on 7 January 2003, losing $4.40 (1.25%) against the previous session's close of $351.70.
At $347.30 per troy ounce, one gram of pure gold was worth about $11.17 on 7 January 2003. A troy ounce is 31.1034768 grams.
Scrap value follows purity, so on 7 January 2003 18k gold was worth about $8.37 per gram and 14k about $6.51 per gram, against $11.17 for pure 24k. These are melt values before any dealer margin.
The gold-to-silver ratio closed at about 72.3 on 7 January 2003, meaning one ounce of gold was worth roughly 72.3 ounces of silver.
A month before 7 January 2003, gold was around $326.30 per troy ounce, so the close of $347.30 is a gain of 6.4% over the month.
A year before 7 January 2003, gold was around $278.60 per troy ounce. The close of $347.30 therefore represents a rise of 24.7% over twelve months.
It closed 1.25% below the highest close on record up to that date, which was set on 2003-01-06.