Distance from the record
This close sat 11.37% 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 7 May 2004, not the current price.See today's gold price (11 September 2026)
Lowest closing price since 3 November 2003
Gold closed at $378.70 per troy ounce on 7 May 2004, down $9.300 (2.40%) from the previous close of $388.00.
Gold lost 2.40% 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 11.37% below the highest gold close recorded up to that date, set on 2004-03-31.
One of the ten lowest gold closes of that year, ranking 240 of 247 sessions.
Metal value only, before dealer margins and fabrication.
Twelve months earlier gold traded around $341.90, making this a +10.76% move year on year.
Figures in this section are shown in USD, independent of the currency selected above.
Gold closed at $378.70 per troy ounce on 7 May 2004. That is $9.30 lower than the previous close of $388.00, a move of -2.40%.
The gold price fell on 7 May 2004, losing $9.30 (2.40%) against the previous session's close of $388.00.
At $378.70 per troy ounce, one gram of pure gold was worth about $12.18 on 7 May 2004. A troy ounce is 31.1034768 grams.
Scrap value follows purity, so on 7 May 2004 18k gold was worth about $9.13 per gram and 14k about $7.10 per gram, against $12.18 for pure 24k. These are melt values before any dealer margin.
The gold-to-silver ratio closed at about 67.8 on 7 May 2004, meaning one ounce of gold was worth roughly 67.8 ounces of silver.
A week before 7 May 2004, gold was around $387.00 per troy ounce, so the close of $378.70 is a loss of 2.1% over the week.
A month before 7 May 2004, gold was around $422.80 per troy ounce, so the close of $378.70 is a loss of 10.4% over the month.
It closed 11.37% below the highest close on record up to that date, which was set on 2004-03-31.