Gold Price in January 2003
In January 2003, gold rose 6.0%, from $347.60 at the end of December to $368.30 per troy ounce on January 31, 2003. The highest close was $370.00 on January 28, 2003, the lowest $346.10 on January 2, 2003, and the average over 21 trading days was $358.19. Today's price is 952.6% higher than the January 2003 close.
Gold ended January higher. What usually happens in February after a higher January →
- Gold rose 6.0% in US dollars in January 2003.
- Measured in other currencies, the change ranged from +2.6% in PKR to +22.5% in EGP, because exchange rates moved too.
- It did better than silver (+1.1%) and US stocks (−2.6%).
- It closed higher on 13 trading days and lower on 8, with an average daily move of 0.70%.
- Gold/silver ratio: 72.4 → 75.9.
Gold price chart, January 2003
US dollars per troy ounce · daily closeGold in other currencies, January 2003
| Currency | Change in the month |
|---|---|
| EGP | +22.5% |
| JPY | +7.0% |
| CNY | +6.0% |
| PKR | +2.6% |
Price in each currency at each day's exchange rate, previous month-end to this month-end. A weaker currency makes gold rise more in local terms.
Gold vs other assets, January 2003
| Asset | Change (USD) |
|---|---|
| Gold | +6.0% |
| Silver | +1.1% |
| S&P 500 (with dividends) | −2.6% |
| US inflation (CPI, month) | +0.44% |
| Gold/silver ratio | 72.4 → 75.9 |
Month-end to month-end. US CPI is the official monthly index (not seasonally adjusted), published the following month.
Daily Gold Prices, January 2003
Closing price for every trading day.
| Date | Close (USD per oz) | Change | USD per gram |
|---|---|---|---|
| Jan 2Thu | $346.10 | −0.43% | $11.13 |
| Jan 3Fri | $351.20 | +1.47% | $11.29 |
| Jan 6Mon | $351.70 | +0.14% | $11.31 |
| Jan 7Tue | $347.30 | −1.25% | $11.17 |
| Jan 8Wed | $353.90 | +1.90% | $11.38 |
| Jan 9Thu | $353.30 | −0.17% | $11.36 |
| Jan 10Fri | $354.50 | +0.34% | $11.40 |
| Jan 13Mon | $354.70 | +0.06% | $11.40 |
| Jan 14Tue | $352.00 | −0.76% | $11.32 |
| Jan 15Wed | $350.70 | −0.37% | $11.28 |
| Jan 16Thu | $357.70 | +2.00% | $11.50 |
| Jan 17Fri | $356.60 | −0.31% | $11.46 |
| Jan 21Tue | $357.30 | +0.20% | $11.49 |
| Jan 22Wed | $359.70 | +0.67% | $11.56 |
| Jan 23Thu | $364.50 | +1.33% | $11.72 |
| Jan 24Fri | $368.20 | +1.02% | $11.84 |
| Jan 27Mon | $369.40 | +0.33% | $11.88 |
| Jan 28Tue | $370.00 | +0.16% | $11.90 |
| Jan 29Wed | $366.30 | −1.00% | $11.78 |
| Jan 30Thu | $368.60 | +0.63% | $11.85 |
| Jan 31Fri | $368.30 | −0.08% | $11.84 |
How January usually goes for gold
In the 20 years from 2006 to 2025, gold rose in January 14 times out of 20, with an average move of +3.5% and a median of +3.7%. Every January since 1971 →
Gold in January 2003: FAQ
What was the price of gold in January 2003?
Gold traded between $346.10 and $370.00 per troy ounce (daily closes) in January 2003, averaging $358.19. It closed the month at $368.30.
How much did gold go up in January 2003?
Gold rose 6.0%, from $347.60 to $368.30. The biggest daily rise was +2.0% on January 16, 2003 and the biggest fall −1.3% on January 7, 2003.
What was the gold price on January 2, 2003?
Gold closed at $346.10 per troy ounce on January 2, 2003, the first trading day of the month.
Is January usually a good month for gold?
In the 20 years from 2006 to 2025, gold rose in January 14 times out of 20, with an average move of +3.5% and a median of +3.7%. Past seasonal patterns are not a reliable guide to any single year.
Did gold beat stocks in January 2003?
Yes. Gold was +6.0% for the month, against −2.6% for the S&P 500 with dividends.
Did gold keep up with inflation in January 2003?
US consumer prices (CPI) changed +0.44% in January, so gold's real (inflation-adjusted) change was about +5.5%.
Cite this page
For essays, articles and research. Prices on this page update daily, so the citations include today's date as the date you accessed it.
@misc{corgano2026goldpriceinjanuary, author = {{Corgano}}, title = {Gold Price in January 2003}, howpublished = {\url{https://goldprice.corgano.com/gold-price-history/2003/january}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-11-01}}