Gold Price in August 2008
In August 2008, gold fell 8.8%, from $909.00 at the end of July to $829.30 per troy ounce on August 29, 2008. The highest close was $909.00 on August 1, 2008, the lowest $786.00 on August 14, 2008, and the average over 25 trading days was $834.12. Today's price is 367.5% higher than the August 2008 close.
Gold ended August lower. What usually happens in September after a lower August →
- Gold fell 8.8% in US dollars in August 2008, leaving it down 0.7% for the year to date.
- Measured in other currencies, the change ranged from −9.1% in CNY to −0.7% in AUD, because exchange rates moved too.
- It did better than silver (−22.2%), and worse than US stocks (+1.4%).
- It closed higher on 7 trading days and lower on 13, with an average daily move of 1.11%.
- At the end of the month it was 17.3% below its highest close since 2000.
- Gold/silver ratio: 52.0 → 60.9.
Gold price chart, August 2008
US dollars per troy ounce · daily closeGold in other currencies, August 2008
| Currency | Change in the month |
|---|---|
| AUD | −0.7% |
| GBP | −1.1% |
| ZAR | −2.6% |
| EUR | −3.0% |
| PKR | −3.1% |
| CHF | −4.8% |
| CAD | −4.9% |
| INR | −6.2% |
| TRY | −6.4% |
| JPY | −7.9% |
| EGP | −8.1% |
| CNY | −9.1% |
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 2008
| Asset | Change (USD) |
|---|---|
| Gold | −8.8% |
| Silver | −22.2% |
| S&P 500 (with dividends) | +1.4% |
| US inflation (CPI, month) | −0.40% |
| Gold, year to date (end of August) | −0.7% |
| Gold/silver ratio | 52.0 → 60.9 |
Month-end to month-end. US CPI is the official monthly index (not seasonally adjusted), published the following month.
Daily Gold Prices, August 2008
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 1Fri | $909.00 | 0.00% | $29.23 | ₹12,401 | AED 107.32 |
| Aug 3Sun | $900.10 | −0.98% | $28.94 | ₹12,280 | AED 106.23 |
| Aug 4Mon | $878.60 | −2.39% | $28.25 | ₹11,987 | AED 103.70 |
| Aug 5Tue | $875.60 | −0.34% | $28.15 | ₹11,946 | AED 103.34 |
| Aug 6Wed | $870.70 | −0.56% | $27.99 | ₹11,879 | AED 102.76 |
| Aug 7Thu | $857.80 | −1.48% | $27.58 | ₹11,703 | AED 101.27 |
| Aug 8Fri | $857.80 | 0.00% | $27.58 | ₹11,703 | AED 101.27 |
| Aug 10Sun | $821.50 | −4.23% | $26.41 | ₹11,208 | AED 96.96 |
| Aug 11Mon | $808.20 | −1.62% | $25.98 | ₹11,026 | AED 95.39 |
| Aug 12Tue | $825.00 | +2.08% | $26.52 | ₹11,255 | AED 97.37 |
| Aug 13Wed | $808.20 | −2.04% | $25.98 | ₹11,026 | AED 95.39 |
| Aug 14Thu | $786.00 | −2.75% | $25.27 | ₹10,723 | AED 92.80 |
| Aug 15Fri | $786.00 | 0.00% | $25.27 | ₹10,723 | AED 92.80 |
| Aug 17Sun | $799.70 | +1.74% | $25.71 | ₹10,910 | AED 94.38 |
| Aug 18Mon | $811.10 | +1.43% | $26.08 | ₹11,066 | AED 95.73 |
| Aug 19Tue | $810.30 | −0.10% | $26.05 | ₹11,055 | AED 95.64 |
| Aug 20Wed | $833.00 | +2.80% | $26.78 | ₹11,364 | AED 98.32 |
| Aug 21Thu | $827.40 | −0.67% | $26.60 | ₹11,288 | AED 97.69 |
| Aug 22Fri | $827.40 | 0.00% | $26.60 | ₹11,288 | AED 97.69 |
| Aug 24Sun | $819.80 | −0.92% | $26.36 | ₹11,184 | AED 96.76 |
| Aug 25Mon | $822.20 | +0.29% | $26.43 | ₹11,545 | AED 97.04 |
| Aug 26Tue | $828.10 | +0.72% | $26.62 | ₹11,622 | AED 97.74 |
| Aug 27Wed | $830.90 | +0.34% | $26.71 | ₹11,661 | AED 98.10 |
| Aug 28Thu | $829.30 | −0.19% | $26.66 | ₹11,632 | AED 97.91 |
| Aug 29Fri | $829.30 | 0.00% | $26.66 | ₹11,632 | AED 97.91 |
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 +1.5% and a median of +1.1%. Every August since 1971 →
Gold in August 2008: FAQ
What was the price of gold in August 2008?
Gold traded between $786.00 and $909.00 per troy ounce (daily closes) in August 2008, averaging $834.12. It closed the month at $829.30.
How much did gold go down in August 2008?
Gold fell 8.8%, from $909.00 to $829.30. The biggest daily rise was +2.8% on August 20, 2008 and the biggest fall −4.2% on August 10, 2008.
What was the gold price on August 1, 2008?
Gold closed at $909.00 per troy ounce on August 1, 2008, the first trading day of the month. 24K India, ₹ per 10 g: ₹12,401.
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 +1.5% and a median of +1.1%. Past seasonal patterns are not a reliable guide to any single year.
How much did gold change in rupees in August 2008?
Gold fell 6.2% in Indian rupee terms in August 2008, compared with −8.8% in US dollars.
Did gold beat stocks in August 2008?
No. Gold was −8.8% for the month, against +1.4% for the S&P 500 with dividends.
Did gold keep up with inflation in August 2008?
US consumer prices (CPI) changed −0.40% in August, so gold's real (inflation-adjusted) change was about −8.4%.
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 2008}, howpublished = {\url{https://goldprice.corgano.com/gold-price-history/2008/august}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-11-01}}