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 November 2016, not the current price.See today's gold price (11 September 2026)
Gold closed at $1,278.30 per troy ounce on 7 November 2016, down $25.00 (1.92%) from the previous close of $1,303.30.
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 was the strongest close of the week up to that point.
This close sat 32.32% 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 $1,087.60, making this a +17.53% move year on year.
Figures in this section are shown in USD, independent of the currency selected above.
Gold closed at $1,278.30 per troy ounce on 7 November 2016. That is $25.00 lower than the previous close of $1,303.30, a move of -1.92%.
The gold price fell on 7 November 2016, losing $25.00 (1.92%) against the previous session's close of $1,303.30.
At $1,278.30 per troy ounce, one gram of pure gold was worth about $41.10 on 7 November 2016. A troy ounce is 31.1034768 grams.
Scrap value follows purity, so on 7 November 2016 18k gold was worth about $30.82 per gram and 14k about $23.97 per gram, against $41.10 for pure 24k. These are melt values before any dealer margin.
The gold-to-silver ratio closed at about 70.5 on 7 November 2016, meaning one ounce of gold was worth roughly 70.5 ounces of silver.
A year before 7 November 2016, gold was around $1,087.60 per troy ounce. The close of $1,278.30 therefore represents a rise of 17.5% over twelve months.
It closed 32.32% below the highest close on record up to that date, which was set on 2011-08-22.