Gold Price in August 2004
In August 2004, gold rose 5.0%, from $391.00 at the end of July to $410.40 per troy ounce on August 31, 2004. The highest close was $413.20 on August 20, 2004, the lowest $391.70 on August 2, 2004, and the average over 22 trading days was $401.89. Today's price is 844.6% higher than the August 2004 close.
Gold ended August higher. What usually happens in September after a higher August →
- Gold rose 5.0% in US dollars in August 2004, leaving it down 1.3% for the year to date.
- Measured in other currencies, the change ranged from +3.0% in CAD to +10.8% in ZAR, because exchange rates moved too.
- It did better than silver (+3.4%) and US stocks (+0.4%).
- It closed higher on 13 trading days and lower on 9, with an average daily move of 0.74%.
- At the end of the month it was 4.1% below its highest close since 2000.
- Gold/silver ratio: 59.7 → 60.6.
Gold price chart, August 2004
US dollars per troy ounce · daily closeGold in other currencies, August 2004
| Currency | Change in the month |
|---|---|
| ZAR | +10.8% |
| GBP | +6.6% |
| PKR | +5.8% |
| EGP | +5.0% |
| CNY | +5.0% |
| INR | +5.0% |
| EUR | +3.5% |
| CHF | +3.2% |
| JPY | +3.1% |
| CAD | +3.0% |
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, August 2004
| Asset | Change (USD) |
|---|---|
| Gold | +5.0% |
| Silver | +3.4% |
| S&P 500 (with dividends) | +0.4% |
| US inflation (CPI, month) | +0.05% |
| Gold, year to date (end of August) | −1.3% |
| Gold/silver ratio | 59.7 → 60.6 |
Month-end to month-end. US CPI is the official monthly index (not seasonally adjusted), published the following month.
Daily Gold Prices, August 2004
Closing price for every trading day, with the same price in INR and AED at that day's exchange rate.
| Date | Close (USD per oz) | Change | USD per gram | 24K India, ₹ per 10 g | 24K UAE, AED per gram |
|---|---|---|---|---|---|
| Aug 2Mon | $391.70 | +0.18% | $12.59 | ₹5,820 | AED 46.24 |
| Aug 3Tue | $394.00 | +0.59% | $12.67 | ₹5,866 | AED 46.51 |
| Aug 4Wed | $392.20 | −0.46% | $12.61 | ₹5,834 | AED 46.30 |
| Aug 5Thu | $392.30 | +0.03% | $12.61 | ₹5,826 | AED 46.31 |
| Aug 6Fri | $399.80 | +1.91% | $12.85 | ₹5,937 | AED 47.19 |
| Aug 9Mon | $400.70 | +0.23% | $12.88 | ₹5,956 | AED 47.31 |
| Aug 10Tue | $400.00 | −0.17% | $12.86 | ₹5,943 | AED 47.22 |
| Aug 11Wed | $395.50 | −1.13% | $12.72 | ₹5,873 | AED 46.69 |
| Aug 12Thu | $394.30 | −0.30% | $12.68 | ₹5,860 | AED 46.55 |
| Aug 13Fri | $398.90 | +1.17% | $12.82 | ₹5,929 | AED 47.10 |
| Aug 16Mon | $402.90 | +1.00% | $12.95 | ₹5,990 | AED 47.56 |
| Aug 17Tue | $404.40 | +0.37% | $13.00 | ₹6,014 | AED 47.74 |
| Aug 18Wed | $404.30 | −0.02% | $13.00 | ₹6,014 | AED 47.73 |
| Aug 19Thu | $407.10 | +0.69% | $13.09 | ₹6,048 | AED 48.06 |
| Aug 20Fri | $413.20 | +1.50% | $13.28 | ₹6,139 | AED 48.78 |
| Aug 23Mon | $410.50 | −0.65% | $13.20 | ₹6,098 | AED 48.46 |
| Aug 24Tue | $403.00 | −1.83% | $12.96 | ₹5,992 | AED 47.57 |
| Aug 25Wed | $407.90 | +1.22% | $13.11 | ₹6,068 | AED 48.15 |
| Aug 26Thu | $407.40 | −0.12% | $13.10 | ₹6,055 | AED 48.10 |
| Aug 27Fri | $403.30 | −1.01% | $12.97 | ₹5,994 | AED 47.61 |
| Aug 30Mon | $407.80 | +1.12% | $13.11 | ₹6,067 | AED 48.14 |
| Aug 31Tue | $410.40 | +0.64% | $13.19 | ₹6,102 | AED 48.45 |
How August usually goes for gold
In the 20 years from 2006 to 2025, gold rose in August 13 times out of 20, with an average move of +1.9% and a median of +0.9%. Every August since 1971 →
Gold in August 2004: FAQ
What was the price of gold in August 2004?
Gold traded between $391.70 and $413.20 per troy ounce (daily closes) in August 2004, averaging $401.89. It closed the month at $410.40.
How much did gold go up in August 2004?
Gold rose 5.0%, from $391.00 to $410.40. The biggest daily rise was +1.9% on August 6, 2004 and the biggest fall −1.8% on August 24, 2004.
What was the gold price on August 2, 2004?
Gold closed at $391.70 per troy ounce on August 2, 2004, the first trading day of the month. 24K India, ₹ per 10 g: ₹5,820.
Is August usually a good month for gold?
In the 20 years from 2006 to 2025, gold rose in August 13 times out of 20, with an average move of +1.9% and a median of +0.9%. Past seasonal patterns are not a reliable guide to any single year.
How much did gold change in rupees in August 2004?
Gold rose 5.0% in Indian rupee terms in August 2004, compared with +5.0% in US dollars.
Did gold beat stocks in August 2004?
Yes. Gold was +5.0% for the month, against +0.4% for the S&P 500 with dividends.
Did gold keep up with inflation in August 2004?
US consumer prices (CPI) changed +0.05% in August, so gold's real (inflation-adjusted) change was about +4.9%.
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{corgano2026goldpriceinaugust, author = {{Corgano}}, title = {Gold Price in August 2004}, howpublished = {\url{https://goldprice.corgano.com/gold-price-history/2004/august}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-10-31}}