Gold Price in March 2008
In March 2008, gold fell 9.2%, from $972.10 at the end of February to $882.90 per troy ounce on March 31, 2008. The highest close was $1,003.20 on March 17, 2008, the lowest $882.90 on March 31, 2008, and the average over 24 trading days was $957.91. Today's price is 339.1% higher than the March 2008 close.
Gold ended March lower. What usually happens in April after a lower March →
- Gold fell 9.2% in US dollars in March 2008, leaving it up 5.7% for the year to date.
- Measured in other currencies, the change ranged from −13.3% in CHF to −0.6% in TRY, because exchange rates moved too.
- It did better than silver (−14.9%), and worse than US stocks (−0.4%).
- It closed higher on 10 trading days and lower on 11, with an average daily move of 1.22%.
- It set 4 record closing highs (London price, records since 1968), the last on 17 March.
- Gold/silver ratio: 49.1 → 52.4.
Gold price chart, March 2008
US dollars per troy ounce · daily closeGold in other currencies, March 2008
| Currency | Change in the month |
|---|---|
| TRY | −0.6% |
| ZAR | −5.7% |
| CAD | −5.7% |
| AUD | −7.6% |
| PKR | −9.0% |
| GBP | −9.1% |
| INR | −9.2% |
| EGP | −9.2% |
| CNY | −10.3% |
| EUR | −12.4% |
| JPY | −12.6% |
| CHF | −13.3% |
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, March 2008
| Asset | Change (USD) |
|---|---|
| Gold | −9.2% |
| Silver | −14.9% |
| S&P 500 (with dividends) | −0.4% |
| US inflation (CPI, month) | +0.87% |
| Gold, year to date (end of March) | +5.7% |
| Gold/silver ratio | 49.1 → 52.4 |
Month-end to month-end. US CPI is the official monthly index (not seasonally adjusted), published the following month.
Key Events in March 2008
- Sunday, March 16JPMorgan Chase agrees to acquire Bear Stearns for about $2 a share with Fed financing. SourceGold: +0.3% that day
Daily Gold Prices, March 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 |
|---|---|---|---|---|---|
| Mar 3Mon | $981.50 | +0.97% | $31.56 | ₹12,703 | AED 115.86 |
| Mar 4Tue | $963.90 | −1.79% | $30.99 | ₹12,461 | AED 113.78 |
| Mar 5Wed | $986.20 | +2.31% | $31.71 | ₹12,738 | AED 116.44 |
| Mar 6Thu | $975.00 | −1.14% | $31.35 | ₹12,553 | AED 115.09 |
| Mar 7Fri | $972.20 | −0.29% | $31.26 | ₹12,577 | AED 114.71 |
| Mar 9Sun | $969.90 | −0.24% | $31.18 | ₹12,548 | AED 114.44 |
| Mar 10Mon | $974.20 | +0.44% | $31.32 | ₹12,627 | AED 115.00 |
| Mar 11Tue | $978.80 | +0.47% | $31.47 | ₹12,643 | AED 115.54 |
| Mar 12Wed | $992.30 | +1.38% | $31.90 | ₹12,755 | AED 117.05 |
| Mar 13Thu | $998.20 | +0.59% | $32.09 | ₹12,877 | AED 117.76 |
| Mar 14Fri | $998.20 | 0.00% | $32.09 | ₹12,861 | AED 117.78 |
| Mar 16Sun | $1,001.40 | +0.32% | $32.20 | ₹12,902 | AED 118.16 |
| Mar 17Mon | $1,003.20 | +0.18% | $32.25 | ₹13,022 | AED 118.39 |
| Mar 18Tue | $944.70 | −5.83% | $30.37 | ₹12,196 | AED 111.50 |
| Mar 19Wed | $919.60 | −2.66% | $29.57 | ₹11,866 | AED 108.55 |
| Mar 20Thu | $919.60 | 0.00% | $29.57 | ₹11,908 | AED 108.55 |
| Mar 23Sun | $918.30 | −0.14% | $29.52 | ₹11,864 | AED 108.39 |
| Mar 24Mon | $934.60 | +1.78% | $30.05 | ₹12,075 | AED 110.32 |
| Mar 25Tue | $949.00 | +1.54% | $30.51 | ₹12,220 | AED 112.02 |
| Mar 26Wed | $948.80 | −0.02% | $30.50 | ₹12,219 | AED 111.95 |
| Mar 27Thu | $930.60 | −1.92% | $29.92 | ₹11,951 | AED 109.82 |
| Mar 28Fri | $930.60 | 0.00% | $29.92 | ₹11,853 | AED 109.85 |
| Mar 30Sun | $916.20 | −1.55% | $29.46 | ₹11,750 | AED 108.15 |
| Mar 31Mon | $882.90 | −3.63% | $28.39 | ₹11,323 | AED 104.22 |
How March usually goes for gold
In the 20 years from 2006 to 2025, gold rose in March 10 times out of 20, with an average move of +0.8% and a median of +0.3%. Every March since 1971 →
Gold in March 2008: FAQ
What was the price of gold in March 2008?
Gold traded between $882.90 and $1,003.20 per troy ounce (daily closes) in March 2008, averaging $957.91. It closed the month at $882.90.
How much did gold go down in March 2008?
Gold fell 9.2%, from $972.10 to $882.90. The biggest daily rise was +2.3% on March 5, 2008 and the biggest fall −5.8% on March 18, 2008.
What was the gold price on March 3, 2008?
Gold closed at $981.50 per troy ounce on March 3, 2008, the first trading day of the month. 24K India, ₹ per 10 g: ₹12,703.
Is March usually a good month for gold?
In the 20 years from 2006 to 2025, gold rose in March 10 times out of 20, with an average move of +0.8% and a median of +0.3%. Past seasonal patterns are not a reliable guide to any single year.
How much did gold change in rupees in March 2008?
Gold fell 9.2% in Indian rupee terms in March 2008, compared with −9.2% in US dollars.
Did gold beat stocks in March 2008?
No. Gold was −9.2% for the month, against −0.4% for the S&P 500 with dividends.
Did gold keep up with inflation in March 2008?
US consumer prices (CPI) changed +0.87% in March, 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{corgano2026goldpriceinmarch, author = {{Corgano}}, title = {Gold Price in March 2008}, howpublished = {\url{https://goldprice.corgano.com/gold-price-history/2008/march}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-11-01}}