Distance from the record
This close sat 2.45% below the highest gold close recorded up to that date, set on 2004-10-01.
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This page is a historical record of the gold price in 7 October 2004, not the current price.See today's gold price (11 September 2026)
Gold closed at $418.00 per troy ounce on 7 October 2004, down $0.400 (0.10%) from the previous close of $418.40.
Gold barely moved, closing within 0.10% of the previous session. Flat days are the majority of any price series and are most useful as the baseline the notable days are measured against.
This close sat 2.45% below the highest gold close recorded up to that date, set on 2004-10-01.
Metal value only, before dealer margins and fabrication.
Twelve months earlier gold traded around $377.20, making this a +10.82% move year on year.
Figures in this section are shown in USD, independent of the currency selected above.
Gold closed at $418.00 per troy ounce on 7 October 2004. That is $0.40 lower than the previous close of $418.40, a move of -0.10%.
The gold price fell on 7 October 2004, losing $0.40 (0.10%) against the previous session's close of $418.40.
At $418.00 per troy ounce, one gram of pure gold was worth about $13.44 on 7 October 2004. A troy ounce is 31.1034768 grams.
Scrap value follows purity, so on 7 October 2004 18k gold was worth about $10.08 per gram and 14k about $7.84 per gram, against $13.44 for pure 24k. These are melt values before any dealer margin.
The gold-to-silver ratio closed at about 58.1 on 7 October 2004, meaning one ounce of gold was worth roughly 58.1 ounces of silver.
A month before 7 October 2004, gold was around $397.40 per troy ounce, so the close of $418.00 is a gain of 5.2% over the month.
It closed 2.45% below the highest close on record up to that date, which was set on 2004-10-01.