Gold Price in August 2011
In August 2011, gold rose 12.3%, from $1,628.30 at the end of July to $1,828.50 per troy ounce on August 31, 2011. The highest close was $1,888.70 on August 22, 2011, the lowest $1,619.00 on August 1, 2011, and the average over 23 trading days was $1,758.49. Today's price is 112.0% higher than the August 2011 close.
Gold ended August higher. What usually happens in September after a higher August →
- Gold rose 12.3% in US dollars in August 2011, leaving it up 28.7% for the year to date.
- Measured in other currencies, the change ranged from +10.9% in JPY to +17.0% in ZAR, because exchange rates moved too.
- It did better than silver (+4.0%) and US stocks (−5.4%).
- It closed higher on 15 trading days and lower on 8, with an average daily move of 1.51%.
- It set 11 record closing highs (London price, records since 1968), the last on 22 August.
- Gold/silver ratio: 40.6 → 43.8.
Gold price chart, August 2011
US dollars per troy ounce · daily closeGold in other currencies, August 2011
| Currency | Change in the month |
|---|---|
| ZAR | +17.0% |
| INR | +16.7% |
| CAD | +15.7% |
| AUD | +15.6% |
| TRY | +15.1% |
| PKR | +13.1% |
| GBP | +13.1% |
| CHF | +13.1% |
| EGP | +12.7% |
| EUR | +12.0% |
| CNY | +11.2% |
| JPY | +10.9% |
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 2011
| Asset | Change (USD) |
|---|---|
| Gold | +12.3% |
| Silver | +4.0% |
| S&P 500 (with dividends) | −5.4% |
| US inflation (CPI, month) | +0.28% |
| Gold, year to date (end of August) | +28.7% |
| Gold/silver ratio | 40.6 → 43.8 |
Month-end to month-end. US CPI is the official monthly index (not seasonally adjusted), published the following month.
Key Events in August 2011
- Friday, August 5Standard & Poor's downgrades the US long-term credit rating from AAA to AA+. SourceGold: −0.4% that day
Daily Gold Prices, August 2011
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 1Mon | $1,619.00 | −0.57% | $52.05 | ₹22,936 | AED 191.13 |
| Aug 2Tue | $1,641.90 | +1.41% | $52.79 | ₹23,366 | AED 193.83 |
| Aug 3Wed | $1,663.40 | +1.31% | $53.48 | ₹23,698 | AED 196.37 |
| Aug 4Thu | $1,656.20 | −0.43% | $53.25 | ₹23,729 | AED 195.53 |
| Aug 5Fri | $1,648.80 | −0.45% | $53.01 | ₹23,623 | AED 194.66 |
| Aug 8Mon | $1,710.20 | +3.72% | $54.98 | ₹24,745 | AED 201.90 |
| Aug 9Tue | $1,740.00 | +1.74% | $55.94 | ₹25,288 | AED 205.41 |
| Aug 10Wed | $1,781.30 | +2.37% | $57.27 | ₹25,914 | AED 210.30 |
| Aug 11Thu | $1,748.80 | −1.82% | $56.23 | ₹25,466 | AED 206.46 |
| Aug 12Fri | $1,740.20 | −0.49% | $55.95 | ₹25,341 | AED 205.44 |
| Aug 15Mon | $1,755.50 | +0.88% | $56.44 | ₹25,530 | AED 207.24 |
| Aug 16Tue | $1,782.40 | +1.53% | $57.31 | ₹25,932 | AED 210.42 |
| Aug 17Wed | $1,791.20 | +0.49% | $57.59 | ₹26,089 | AED 211.52 |
| Aug 18Thu | $1,818.90 | +1.55% | $58.48 | ₹26,731 | AED 214.79 |
| Aug 19Fri | $1,848.90 | +1.65% | $59.44 | ₹27,172 | AED 218.33 |
| Aug 22Mon | $1,888.70 | +2.15% | $60.72 | ₹27,696 | AED 223.03 |
| Aug 23Tue | $1,858.30 | −1.61% | $59.75 | ₹27,208 | AED 219.44 |
| Aug 24Wed | $1,754.10 | −5.61% | $56.40 | ₹25,908 | AED 207.11 |
| Aug 25Thu | $1,759.80 | +0.32% | $56.58 | ₹26,032 | AED 207.78 |
| Aug 26Fri | $1,794.10 | +1.95% | $57.68 | ₹26,539 | AED 211.83 |
| Aug 29Mon | $1,788.40 | −0.32% | $57.50 | ₹26,363 | AED 211.16 |
| Aug 30Tue | $1,826.70 | +2.14% | $58.73 | ₹26,980 | AED 215.68 |
| Aug 31Wed | $1,828.50 | +0.10% | $58.79 | ₹26,889 | AED 215.92 |
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 +1.9% and a median of +0.9%. Every August since 1971 →
Gold in August 2011: FAQ
What was the price of gold in August 2011?
Gold traded between $1,619.00 and $1,888.70 per troy ounce (daily closes) in August 2011, averaging $1,758.49. It closed the month at $1,828.50.
How much did gold go up in August 2011?
Gold rose 12.3%, from $1,628.30 to $1,828.50. The biggest daily rise was +3.7% on August 8, 2011 and the biggest fall −5.6% on August 24, 2011.
What was the gold price on August 1, 2011?
Gold closed at $1,619.00 per troy ounce on August 1, 2011, the first trading day of the month. 24K India, ₹ per 10 g: ₹22,936.
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 +1.9% and a median of +0.9%. Past seasonal patterns are not a reliable guide to any single year.
How much did gold change in rupees in August 2011?
Gold rose 16.7% in Indian rupee terms in August 2011, compared with +12.3% in US dollars.
Did gold beat stocks in August 2011?
Yes. Gold was +12.3% for the month, against −5.4% for the S&P 500 with dividends.
Did gold keep up with inflation in August 2011?
US consumer prices (CPI) changed +0.28% in August, so gold's real (inflation-adjusted) change was about +12.0%.
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{corgano2026goldpriceinaugust, author = {{Corgano}}, title = {Gold Price in August 2011}, howpublished = {\url{https://goldprice.corgano.com/gold-price-history/2011/august}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-10-31}}