Gold Price in August 2020
In August 2020, gold rose 0.8%, from $1,962.80 at the end of July to $1,978.60 per troy ounce on August 31, 2020. The highest close was $2,069.40 on August 6, 2020, the lowest $1,923.10 on August 25, 2020, and the average over 21 trading days was $1,979.30. Today's price is 95.9% higher than the August 2020 close.
Gold ended August higher. What usually happens in September after a higher August →
- Gold rose 0.8% in US dollars in August 2020, leaving it up 30.2% for the year to date.
- Measured in other currencies, the change ranged from −2.0% in CAD to +6.3% in TRY, because exchange rates moved too.
- It did worse than silver (+17.6%), bitcoin (+3.2%) and US stocks (+7.2%).
- It closed higher on 13 trading days and lower on 8, with an average daily move of 1.31%.
- It set 4 record closing highs (London price, records since 1968), the last on 6 August.
- Gold/silver ratio: 81.1 → 69.6.
Gold price chart, August 2020
US dollars per troy ounce · daily closeGold in other currencies, August 2020
| Currency | Change in the month |
|---|---|
| TRY | +6.3% |
| ZAR | +2.1% |
| JPY | +2.1% |
| CHF | +0.3% |
| EUR | +0.2% |
| EGP | +0.1% |
| INR | −1.0% |
| PKR | −1.0% |
| GBP | −1.0% |
| CNY | −1.5% |
| AUD | −1.6% |
| CAD | −2.0% |
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 2020
| Asset | Change (USD) |
|---|---|
| Gold | +0.8% |
| Silver | +17.6% |
| Bitcoin | +3.2% |
| S&P 500 (with dividends) | +7.2% |
| US inflation (CPI, month) | +0.32% |
| Gold, year to date (end of August) | +30.2% |
| Gold/silver ratio | 81.1 → 69.6 |
Month-end to month-end. US CPI is the official monthly index (not seasonally adjusted), published the following month.
Key Events in August 2020
- Tuesday, August 4Gold rises above $2,000 an ounce for the first time. SourceGold: +2.8% that day
Daily Gold Prices, August 2020
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 3Mon | $1,966.00 | +0.16% | $63.21 | ₹47,615 | AED 232.11 |
| Aug 4Tue | $2,021.00 | +2.80% | $64.98 | ₹48,895 | AED 238.61 |
| Aug 5Wed | $2,049.30 | +1.40% | $65.89 | ₹49,337 | AED 241.92 |
| Aug 6Thu | $2,069.40 | +0.98% | $66.53 | ₹49,833 | AED 244.32 |
| Aug 7Fri | $2,028.00 | −2.00% | $65.20 | ₹48,836 | AED 239.43 |
| Aug 10Mon | $2,039.70 | +0.58% | $65.58 | ₹49,249 | AED 240.82 |
| Aug 11Tue | $1,946.30 | −4.58% | $62.57 | ₹46,869 | AED 229.79 |
| Aug 12Wed | $1,949.00 | +0.14% | $62.66 | ₹46,854 | AED 230.11 |
| Aug 13Thu | $1,970.40 | +1.10% | $63.35 | ₹47,531 | AED 232.63 |
| Aug 14Fri | $1,949.80 | −1.05% | $62.69 | ₹47,034 | AED 230.20 |
| Aug 17Mon | $1,998.70 | +2.51% | $64.26 | ₹48,195 | AED 236.03 |
| Aug 18Tue | $2,013.10 | +0.72% | $64.72 | ₹48,409 | AED 237.66 |
| Aug 19Wed | $1,970.30 | −2.13% | $63.35 | ₹47,489 | AED 232.62 |
| Aug 20Thu | $1,946.50 | −1.21% | $62.58 | ₹46,936 | AED 229.81 |
| Aug 21Fri | $1,947.00 | +0.03% | $62.60 | ₹46,948 | AED 229.87 |
| Aug 24Mon | $1,939.20 | −0.40% | $62.35 | ₹46,386 | AED 228.95 |
| Aug 25Tue | $1,923.10 | −0.83% | $61.83 | ₹46,033 | AED 227.05 |
| Aug 26Wed | $1,952.50 | +1.53% | $62.77 | ₹46,604 | AED 230.52 |
| Aug 27Thu | $1,932.60 | −1.02% | $62.13 | ₹45,839 | AED 228.17 |
| Aug 28Fri | $1,974.90 | +2.19% | $63.49 | ₹46,843 | AED 233.16 |
| Aug 31Mon | $1,978.60 | +0.19% | $63.61 | ₹46,864 | AED 233.60 |
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 2020: FAQ
What was the price of gold in August 2020?
Gold traded between $1,923.10 and $2,069.40 per troy ounce (daily closes) in August 2020, averaging $1,979.30. It closed the month at $1,978.60.
How much did gold go up in August 2020?
Gold rose 0.8%, from $1,962.80 to $1,978.60. The biggest daily rise was +2.8% on August 4, 2020 and the biggest fall −4.6% on August 11, 2020.
What was the gold price on August 3, 2020?
Gold closed at $1,966.00 per troy ounce on August 3, 2020, the first trading day of the month. 24K India, ₹ per 10 g: ₹47,615.
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 2020?
Gold fell 1.0% in Indian rupee terms in August 2020, compared with +0.8% in US dollars.
Did gold beat stocks in August 2020?
No. Gold was +0.8% for the month, against +7.2% for the S&P 500 with dividends.
Did gold keep up with inflation in August 2020?
US consumer prices (CPI) changed +0.32% in August, so gold's real (inflation-adjusted) change was about +0.5%.
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 2020}, howpublished = {\url{https://goldprice.corgano.com/gold-price-history/2020/august}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-10-31}}