Gold Price in January 2008
In January 2008, gold rose 10.5%, from $834.90 at the end of December to $922.70 per troy ounce on January 31, 2008. The highest close was $927.10 on January 28, 2008, the lowest $857.00 on January 2, 2008, and the average over 21 trading days was $891.36. Today's price is 320.2% higher than the January 2008 close.
Gold ended January higher. What usually happens in February after a higher January →
- Gold rose 10.5% in US dollars in January 2008.
- Measured in other currencies, the change ranged from +5.2% in JPY to +21.1% in ZAR, because exchange rates moved too.
- It did better than US stocks (−6.0%), and worse than silver (+14.5%).
- It closed higher on 13 trading days and lower on 8, with an average daily move of 0.94%.
- It set 11 record closing highs (London price, records since 1968), the last on 29 January.
- Gold/silver ratio: 56.4 → 54.4.
Gold price chart, January 2008
US dollars per troy ounce · daily closeGold in other currencies, January 2008
| Currency | Change in the month |
|---|---|
| ZAR | +21.1% |
| PKR | +11.8% |
| EGP | +11.5% |
| TRY | +11.1% |
| CAD | +10.9% |
| INR | +10.7% |
| GBP | +10.3% |
| CNY | +8.7% |
| EUR | +8.5% |
| AUD | +7.9% |
| CHF | +5.5% |
| JPY | +5.2% |
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 2008
| Asset | Change (USD) |
|---|---|
| Gold | +10.5% |
| Silver | +14.5% |
| S&P 500 (with dividends) | −6.0% |
| US inflation (CPI, month) | +0.50% |
| Gold/silver ratio | 56.4 → 54.4 |
Month-end to month-end. US CPI is the official monthly index (not seasonally adjusted), published the following month.
Daily Gold Prices, January 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 |
|---|---|---|---|---|---|
| Jan 2Wed | $857.00 | +2.65% | $27.55 | ₹10,849 | AED 101.15 |
| Jan 3Thu | $866.40 | +1.10% | $27.86 | ₹10,962 | AED 102.29 |
| Jan 4Fri | $863.10 | −0.38% | $27.75 | ₹10,849 | AED 101.90 |
| Jan 7Mon | $859.60 | −0.41% | $27.64 | ₹10,837 | AED 101.50 |
| Jan 8Tue | $878.00 | +2.14% | $28.23 | ₹11,064 | AED 103.64 |
| Jan 9Wed | $879.50 | +0.17% | $28.28 | ₹11,088 | AED 103.83 |
| Jan 10Thu | $891.70 | +1.39% | $28.67 | ₹11,243 | AED 105.27 |
| Jan 11Fri | $896.10 | +0.49% | $28.81 | ₹11,263 | AED 105.79 |
| Jan 14Mon | $901.60 | +0.61% | $28.99 | ₹11,368 | AED 106.44 |
| Jan 15Tue | $901.00 | −0.07% | $28.97 | ₹11,353 | AED 106.37 |
| Jan 16Wed | $880.60 | −2.26% | $28.31 | ₹11,090 | AED 103.96 |
| Jan 17Thu | $879.50 | −0.12% | $28.28 | ₹11,082 | AED 103.83 |
| Jan 18Fri | $880.80 | +0.15% | $28.32 | ₹11,125 | AED 103.99 |
| Jan 22Tue | $889.60 | +1.00% | $28.60 | ₹11,243 | AED 105.03 |
| Jan 23Wed | $882.50 | −0.80% | $28.37 | ₹11,200 | AED 104.17 |
| Jan 24Thu | $905.50 | +2.61% | $29.11 | ₹11,461 | AED 106.89 |
| Jan 25Fri | $910.50 | +0.55% | $29.27 | ₹11,497 | AED 107.39 |
| Jan 28Mon | $927.10 | +1.82% | $29.81 | ₹11,713 | AED 109.44 |
| Jan 29Tue | $925.10 | −0.22% | $29.74 | ₹11,662 | AED 109.21 |
| Jan 30Wed | $920.60 | −0.49% | $29.60 | ₹11,646 | AED 108.66 |
| Jan 31Thu | $922.70 | +0.23% | $29.67 | ₹11,663 | AED 108.87 |
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 2008: FAQ
What was the price of gold in January 2008?
Gold traded between $857.00 and $927.10 per troy ounce (daily closes) in January 2008, averaging $891.36. It closed the month at $922.70.
How much did gold go up in January 2008?
Gold rose 10.5%, from $834.90 to $922.70. The biggest daily rise was +2.6% on January 2, 2008 and the biggest fall −2.3% on January 16, 2008.
What was the gold price on January 2, 2008?
Gold closed at $857.00 per troy ounce on January 2, 2008, the first trading day of the month. 24K India, ₹ per 10 g: ₹10,849.
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.
How much did gold change in rupees in January 2008?
Gold rose 10.7% in Indian rupee terms in January 2008, compared with +10.5% in US dollars.
Did gold beat stocks in January 2008?
Yes. Gold was +10.5% for the month, against −6.0% for the S&P 500 with dividends.
Did gold keep up with inflation in January 2008?
US consumer prices (CPI) changed +0.50% in January, so gold's real (inflation-adjusted) change was about +10.0%.
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{corgano2026goldpriceinjanuary, author = {{Corgano}}, title = {Gold Price in January 2008}, howpublished = {\url{https://goldprice.corgano.com/gold-price-history/2008/january}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-11-01}}