Gold Price in September 2004
In September 2004, gold rose 2.0%, from $410.40 at the end of August to $418.70 per troy ounce on September 30, 2004. The highest close was $418.70 on September 30, 2004, the lowest $397.40 on September 7, 2004, and the average over 21 trading days was $406.23. Today's price is 825.9% higher than the September 2004 close.
Gold ended September higher. What usually happens in October after a higher September →
- Gold rose 2.0% in US dollars in September 2004, leaving it up 0.7% for the year to date.
- Measured in other currencies, the change ranged from −1.5% in CAD to +3.1% in JPY, because exchange rates moved too.
- It did better than US stocks (+1.1%), and worse than silver (+2.1%).
- It closed higher on 11 trading days and lower on 10, with an average daily move of 0.55%.
- At the end of the month it was 2.1% below its highest close since 2000.
- Gold/silver ratio: 60.6 → 60.5.
Gold price chart, September 2004
US dollars per troy ounce · daily closeGold in other currencies, September 2004
| Currency | Change in the month |
|---|---|
| JPY | +3.1% |
| PKR | +2.6% |
| CNY | +2.0% |
| EGP | +2.0% |
| GBP | +1.7% |
| INR | +1.4% |
| CHF | +1.1% |
| EUR | +0.2% |
| ZAR | −0.2% |
| CAD | −1.5% |
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, September 2004
| Asset | Change (USD) |
|---|---|
| Gold | +2.0% |
| Silver | +2.1% |
| S&P 500 (with dividends) | +1.1% |
| US inflation (CPI, month) | +0.21% |
| Gold, year to date (end of September) | +0.7% |
| Gold/silver ratio | 60.6 → 60.5 |
Month-end to month-end. US CPI is the official monthly index (not seasonally adjusted), published the following month.
Daily Gold Prices, September 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 |
|---|---|---|---|---|---|
| Sep 1Wed | $408.80 | −0.39% | $13.14 | ₹6,079 | AED 48.26 |
| Sep 2Thu | $406.00 | −0.68% | $13.05 | ₹6,034 | AED 47.92 |
| Sep 3Fri | $400.50 | −1.35% | $12.88 | ₹5,953 | AED 47.28 |
| Sep 7Tue | $397.40 | −0.77% | $12.78 | ₹5,908 | AED 46.92 |
| Sep 8Wed | $399.40 | +0.50% | $12.84 | ₹5,936 | AED 47.15 |
| Sep 9Thu | $398.50 | −0.23% | $12.81 | ₹5,910 | AED 47.04 |
| Sep 10Fri | $401.90 | +0.85% | $12.92 | ₹5,960 | AED 47.44 |
| Sep 13Mon | $404.10 | +0.55% | $12.99 | ₹5,946 | AED 47.70 |
| Sep 14Tue | $405.70 | +0.40% | $13.04 | ₹5,968 | AED 47.90 |
| Sep 15Wed | $405.00 | −0.17% | $13.02 | ₹5,973 | AED 47.81 |
| Sep 16Thu | $404.70 | −0.07% | $13.01 | ₹5,958 | AED 47.78 |
| Sep 17Fri | $405.80 | +0.27% | $13.05 | ₹5,974 | AED 47.91 |
| Sep 20Mon | $405.30 | −0.12% | $13.03 | ₹5,964 | AED 47.85 |
| Sep 21Tue | $408.30 | +0.74% | $13.13 | ₹6,000 | AED 48.20 |
| Sep 22Wed | $407.20 | −0.27% | $13.09 | ₹5,989 | AED 48.07 |
| Sep 23Thu | $410.90 | +0.91% | $13.21 | ₹6,057 | AED 48.50 |
| Sep 24Fri | $408.10 | −0.68% | $13.12 | ₹6,016 | AED 48.17 |
| Sep 27Mon | $409.10 | +0.25% | $13.15 | ₹6,043 | AED 48.29 |
| Sep 28Tue | $412.50 | +0.83% | $13.26 | ₹6,080 | AED 48.70 |
| Sep 29Wed | $413.00 | +0.12% | $13.28 | ₹6,083 | AED 48.76 |
| Sep 30Thu | $418.70 | +1.38% | $13.46 | ₹6,187 | AED 49.43 |
How September usually goes for gold
In the 20 years from 2006 to 2025, gold rose in September 8 times out of 20, with an average move of −0.2% and a median of −2.0%. Every September since 1971 →
Gold in September 2004: FAQ
What was the price of gold in September 2004?
Gold traded between $397.40 and $418.70 per troy ounce (daily closes) in September 2004, averaging $406.23. It closed the month at $418.70.
How much did gold go up in September 2004?
Gold rose 2.0%, from $410.40 to $418.70. The biggest daily rise was +1.4% on September 30, 2004 and the biggest fall −1.4% on September 3, 2004.
What was the gold price on September 1, 2004?
Gold closed at $408.80 per troy ounce on September 1, 2004, the first trading day of the month. 24K India, ₹ per 10 g: ₹6,079.
Is September usually a good month for gold?
In the 20 years from 2006 to 2025, gold rose in September 8 times out of 20, with an average move of −0.2% and a median of −2.0%. Past seasonal patterns are not a reliable guide to any single year.
How much did gold change in rupees in September 2004?
Gold rose 1.4% in Indian rupee terms in September 2004, compared with +2.0% in US dollars.
Did gold beat stocks in September 2004?
Yes. Gold was +2.0% for the month, against +1.1% for the S&P 500 with dividends.
Did gold keep up with inflation in September 2004?
US consumer prices (CPI) changed +0.21% in September, so gold's real (inflation-adjusted) change was about +1.8%.
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{corgano2026goldpriceinseptember, author = {{Corgano}}, title = {Gold Price in September 2004}, howpublished = {\url{https://goldprice.corgano.com/gold-price-history/2004/september}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-10-31}}