Distance from the record
This close sat 13.32% 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 7 May 2008, not the current price.See today's gold price (11 September 2026)
Gold closed at $869.60 per troy ounce on 7 May 2008, down $6.400 (0.73%) from the previous close of $876.00.
This close sat 13.32% 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 $688.00, making this a +26.40% move year on year.
Figures in this section are shown in USD, independent of the currency selected above.
Gold closed at $869.60 per troy ounce on 7 May 2008. That is $6.40 lower than the previous close of $876.00, a move of -0.73%.
The gold price fell on 7 May 2008, losing $6.40 (0.73%) against the previous session's close of $876.00.
At $869.60 per troy ounce, one gram of pure gold was worth about $27.96 on 7 May 2008. A troy ounce is 31.1034768 grams.
Scrap value follows purity, so on 7 May 2008 18k gold was worth about $20.97 per gram and 14k about $16.31 per gram, against $27.96 for pure 24k. These are melt values before any dealer margin.
The gold-to-silver ratio closed at about 52.3 on 7 May 2008, meaning one ounce of gold was worth roughly 52.3 ounces of silver.
A month before 7 May 2008, gold was around $922.70 per troy ounce, so the close of $869.60 is a loss of 5.8% over the month.
A year before 7 May 2008, gold was around $688.00 per troy ounce. The close of $869.60 therefore represents a rise of 26.4% over twelve months.
It closed 13.32% below the highest close on record up to that date, which was set on 2008-03-18.