Gold Price in February 2004
In February 2004, gold fell 1.4%, from $402.20 at the end of January to $396.40 per troy ounce on February 27, 2004. The highest close was $416.00 on February 17, 2004, the lowest $395.80 on February 25, 2004, and the average over 19 trading days was $403.95. Today's price is 878.0% higher than the February 2004 close.
Gold ended February lower. What usually happens in March after a lower February →
- Gold fell 1.4% in US dollars in February 2004, leaving it down 4.6% for the year to date.
- Measured in other currencies, the change ranged from −7.4% in ZAR to +1.8% in JPY, because exchange rates moved too.
- It did worse than silver (+7.2%) and US stocks (+1.4%).
- It closed higher on 10 trading days and lower on 8, with an average daily move of 0.89%.
- At the end of the month it was 7.0% below its highest close since 2000.
- Gold/silver ratio: 64.4 → 59.2.
Gold price chart, February 2004
US dollars per troy ounce · daily closeGold in other currencies, February 2004
| Currency | Change in the month |
|---|---|
| JPY | +1.8% |
| CAD | −0.6% |
| CHF | −0.7% |
| INR | −1.0% |
| PKR | −1.2% |
| EGP | −1.3% |
| CNY | −1.4% |
| EUR | −1.6% |
| GBP | −3.8% |
| ZAR | −7.4% |
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, February 2004
| Asset | Change (USD) |
|---|---|
| Gold | −1.4% |
| Silver | +7.2% |
| S&P 500 (with dividends) | +1.4% |
| US inflation (CPI, month) | +0.54% |
| Gold, year to date (end of February) | −4.6% |
| Gold/silver ratio | 64.4 → 59.2 |
Month-end to month-end. US CPI is the official monthly index (not seasonally adjusted), published the following month.
Daily Gold Prices, February 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 |
|---|---|---|---|---|---|
| Feb 2Mon | $398.70 | −0.87% | $12.82 | ₹5,791 | AED 47.06 |
| Feb 3Tue | $399.20 | +0.13% | $12.83 | ₹5,802 | AED 47.12 |
| Feb 4Wed | $401.00 | +0.45% | $12.89 | ₹5,829 | AED 47.33 |
| Feb 5Thu | $398.10 | −0.72% | $12.80 | ₹5,786 | AED 46.99 |
| Feb 6Fri | $403.60 | +1.38% | $12.98 | ₹5,861 | AED 47.64 |
| Feb 9Mon | $406.80 | +0.79% | $13.08 | ₹5,911 | AED 48.02 |
| Feb 10Tue | $406.40 | −0.10% | $13.07 | ₹5,904 | AED 47.97 |
| Feb 11Wed | $410.20 | +0.94% | $13.19 | ₹5,960 | AED 48.42 |
| Feb 12Thu | $413.70 | +0.85% | $13.30 | ₹6,012 | AED 48.84 |
| Feb 13Fri | $410.30 | −0.82% | $13.19 | ₹5,984 | AED 48.43 |
| Feb 17Tue | $416.00 | +1.39% | $13.37 | ₹6,045 | AED 49.11 |
| Feb 18Wed | $412.30 | −0.89% | $13.26 | ₹5,988 | AED 48.67 |
| Feb 19Thu | $409.80 | −0.61% | $13.18 | ₹5,954 | AED 48.37 |
| Feb 20Fri | $397.50 | −3.00% | $12.78 | ₹5,773 | AED 46.93 |
| Feb 23Mon | $399.00 | +0.38% | $12.83 | ₹5,795 | AED 47.10 |
| Feb 24Tue | $404.50 | +1.38% | $13.00 | ₹5,880 | AED 47.75 |
| Feb 25Wed | $395.80 | −2.15% | $12.73 | ₹5,750 | AED 46.72 |
| Feb 26Thu | $395.80 | 0.00% | $12.73 | ₹5,748 | AED 46.72 |
| Feb 27Fri | $396.40 | +0.15% | $12.74 | ₹5,760 | AED 46.79 |
How February usually goes for gold
In the 20 years from 2006 to 2025, gold rose in February 11 times out of 20, with an average move of +0.9% and a median of +0.8%. Every February since 1971 →
Gold in February 2004: FAQ
What was the price of gold in February 2004?
Gold traded between $395.80 and $416.00 per troy ounce (daily closes) in February 2004, averaging $403.95. It closed the month at $396.40.
How much did gold go down in February 2004?
Gold fell 1.4%, from $402.20 to $396.40. The biggest daily rise was +1.4% on February 17, 2004 and the biggest fall −3.0% on February 20, 2004.
What was the gold price on February 2, 2004?
Gold closed at $398.70 per troy ounce on February 2, 2004, the first trading day of the month. 24K India, ₹ per 10 g: ₹5,791.
Is February usually a good month for gold?
In the 20 years from 2006 to 2025, gold rose in February 11 times out of 20, with an average move of +0.9% and a median of +0.8%. Past seasonal patterns are not a reliable guide to any single year.
How much did gold change in rupees in February 2004?
Gold fell 1.0% in Indian rupee terms in February 2004, compared with −1.4% in US dollars.
Did gold beat stocks in February 2004?
No. Gold was −1.4% for the month, against +1.4% for the S&P 500 with dividends.
Did gold keep up with inflation in February 2004?
US consumer prices (CPI) changed +0.54% in February, so gold's real (inflation-adjusted) change was about −2.0%.
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{corgano2026goldpriceinfebruary, author = {{Corgano}}, title = {Gold Price in February 2004}, howpublished = {\url{https://goldprice.corgano.com/gold-price-history/2004/february}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-10-31}}