Highest so far that month
No earlier session that month closed above this level.
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This page is a historical record of the gold price in 7 October 2008, not the current price.See today's gold price (11 September 2026)
Gold closed at $878.40 per troy ounce on 7 October 2008, up $15.70 (1.82%) from the previous close of $862.70.
No earlier session that month closed above this level.
This close sat 12.44% 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 $741.30, making this a +18.49% move year on year.
Figures in this section are shown in USD, independent of the currency selected above.
Gold closed at $878.40 per troy ounce on 7 October 2008. That is $15.70 higher than the previous close of $862.70, a move of 1.82%.
The gold price rose on 7 October 2008, gaining $15.70 (1.82%) against the previous session's close of $862.70.
At $878.40 per troy ounce, one gram of pure gold was worth about $28.24 on 7 October 2008. A troy ounce is 31.1034768 grams.
Scrap value follows purity, so on 7 October 2008 18k gold was worth about $21.18 per gram and 14k about $16.47 per gram, against $28.24 for pure 24k. These are melt values before any dealer margin.
The gold-to-silver ratio closed at about 77.6 on 7 October 2008, meaning one ounce of gold was worth roughly 77.6 ounces of silver.
A month before 7 October 2008, gold was around $797.60 per troy ounce, so the close of $878.40 is a gain of 10.1% over the month.
A year before 7 October 2008, gold was around $741.30 per troy ounce. The close of $878.40 therefore represents a rise of 18.5% over twelve months.
It closed 12.44% below the highest close on record up to that date, which was set on 2008-03-18.