Highest so far that week
This was the strongest close of the week up to that point.
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This page is a historical record of the gold price in 7 May 2020, not the current price.See today's gold price (11 September 2026)
Gold closed at $1,721.80 per troy ounce on 7 May 2020, up $37.60 (2.23%) from the previous close of $1,684.20.
This was a 2.23% move in one session — well beyond a typical day for gold. Moves this size are usually a reaction to something specific rather than ordinary drift, so the surrounding news is worth checking alongside the number.
This was the strongest close of the week up to that point.
This close sat 8.84% below the highest gold close recorded up to that date, set on 2011-08-22.
Metal value only, before dealer margins and fabrication.
Twelve months earlier gold traded around $1,283.50, making this a +34.15% move year on year.
Figures in this section are shown in USD, independent of the currency selected above.
Gold closed at $1,721.80 per troy ounce on 7 May 2020. That is $37.60 higher than the previous close of $1,684.20, a move of 2.23%.
The gold price rose on 7 May 2020, gaining $37.60 (2.23%) against the previous session's close of $1,684.20.
At $1,721.80 per troy ounce, one gram of pure gold was worth about $55.36 on 7 May 2020. A troy ounce is 31.1034768 grams.
Scrap value follows purity, so on 7 May 2020 18k gold was worth about $41.52 per gram and 14k about $32.29 per gram, against $55.36 for pure 24k. These are melt values before any dealer margin.
The gold-to-silver ratio closed at about 110.6 on 7 May 2020, meaning one ounce of gold was worth roughly 110.6 ounces of silver.
A week before 7 May 2020, gold was around $1,684.20 per troy ounce, so the close of $1,721.80 is a gain of 2.2% over the week.
A year before 7 May 2020, gold was around $1,283.50 per troy ounce. The close of $1,721.80 therefore represents a rise of 34.1% over twelve months.
It closed 8.84% below the highest close on record up to that date, which was set on 2011-08-22.