Gold Price in August 2023
In August 2023, gold fell 0.6%, from $1,978.80 at the end of July to $1,967.10 per troy ounce on August 31, 2023. The highest close was $1,976.10 on August 3, 2023, the lowest $1,915.20 on August 16, 2023, and the average over 27 trading days was $1,948.75. Today's price is 97.1% higher than the August 2023 close.
Gold ended August lower. What usually happens in September after a lower August →
- Gold fell 0.6% in US dollars in August 2023, leaving it up 7.7% for the year to date.
- Measured in other currencies, the change ranged from −1.5% in TRY to +5.9% in PKR, because exchange rates moved too.
- It did better than bitcoin (−11.3%) and US stocks (−1.6%), and worse than silver (+0.1%).
- It closed higher on 9 trading days and lower on 14, with an average daily move of 0.31%.
- At the end of the month it was 4.9% below its highest close since 2000.
- Gold/silver ratio: 81.7 → 81.2.
- The biggest reaction to a scheduled US release was to the CPI inflation (July 2023) on 10 August: −0.1% that day.
Gold price chart, August 2023
US dollars per troy ounce · daily closeGold in other currencies, August 2023
| Currency | Change in the month |
|---|---|
| PKR | +5.9% |
| ZAR | +4.8% |
| AUD | +2.9% |
| CAD | +1.8% |
| CNY | +1.7% |
| JPY | +1.6% |
| EUR | +0.8% |
| CHF | +0.7% |
| GBP | +0.7% |
| INR | 0.0% |
| EGP | −0.6% |
| TRY | −1.5% |
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 2023
| Asset | Change (USD) |
|---|---|
| Gold | −0.6% |
| Silver | +0.1% |
| Bitcoin | −11.3% |
| S&P 500 (with dividends) | −1.6% |
| US inflation (CPI, month) | +0.44% |
| Gold, year to date (end of August) | +7.7% |
| Gold/silver ratio | 81.7 → 81.2 |
Month-end to month-end. US CPI is the official monthly index (not seasonally adjusted), published the following month.
The Fed and US Data in August 2023
Scheduled US releases this month and how gold moved. For Fed decisions the move covers two sessions, because the statement comes after the gold futures settle.
| Date | Release | Result | Gold |
|---|---|---|---|
| Fri 4 Aug | Jobs report (July 2023) | — | 0.0% |
| Thu 10 Aug | CPI inflation (July 2023) | — | −0.1% |
Daily Gold Prices, August 2023
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 1Tue | $1,975.00 | −0.19% | $63.50 | ₹52,263 | AED 233.16 |
| Aug 2Wed | $1,968.80 | −0.31% | $63.30 | ₹52,369 | AED 232.43 |
| Aug 3Thu | $1,976.10 | +0.37% | $63.53 | ₹52,595 | AED 233.29 |
| Aug 4Fri | $1,976.10 | 0.00% | $63.53 | ₹52,595 | AED 233.29 |
| Aug 6Sun | $1,970.00 | −0.31% | $63.34 | ₹52,377 | AED 232.57 |
| Aug 7Mon | $1,959.90 | −0.51% | $63.01 | ₹52,142 | AED 231.38 |
| Aug 8Tue | $1,950.60 | −0.47% | $62.71 | ₹51,955 | AED 230.28 |
| Aug 9Wed | $1,948.90 | −0.09% | $62.66 | ₹51,923 | AED 230.08 |
| Aug 10Thu | $1,946.60 | −0.12% | $62.58 | ₹51,820 | AED 229.81 |
| Aug 11Fri | $1,946.60 | 0.00% | $62.58 | ₹51,820 | AED 229.81 |
| Aug 13Sun | $1,944.00 | −0.13% | $62.50 | ₹51,812 | AED 229.50 |
| Aug 14Mon | $1,935.20 | −0.45% | $62.22 | ₹51,786 | AED 228.46 |
| Aug 15Tue | $1,928.30 | −0.36% | $62.00 | ₹51,577 | AED 227.65 |
| Aug 16Wed | $1,915.20 | −0.68% | $61.58 | ₹51,253 | AED 226.10 |
| Aug 17Thu | $1,916.50 | +0.07% | $61.62 | ₹51,203 | AED 226.31 |
| Aug 18Fri | $1,916.50 | 0.00% | $61.62 | ₹51,203 | AED 226.31 |
| Aug 20Sun | $1,923.00 | +0.34% | $61.83 | ₹51,419 | AED 227.02 |
| Aug 21Mon | $1,926.00 | +0.16% | $61.92 | ₹51,466 | AED 227.38 |
| Aug 22Tue | $1,948.10 | +1.15% | $62.63 | ₹52,031 | AED 229.99 |
| Aug 23Wed | $1,947.10 | −0.05% | $62.60 | ₹51,674 | AED 229.87 |
| Aug 24Thu | $1,939.90 | −0.37% | $62.37 | ₹51,543 | AED 229.02 |
| Aug 25Fri | $1,939.90 | 0.00% | $62.37 | ₹51,543 | AED 229.02 |
| Aug 27Sun | $1,946.80 | +0.36% | $62.59 | ₹51,740 | AED 229.87 |
| Aug 28Mon | $1,965.10 | +0.94% | $63.18 | ₹52,244 | AED 231.99 |
| Aug 29Tue | $1,973.00 | +0.40% | $63.43 | ₹52,329 | AED 232.93 |
| Aug 30Wed | $1,965.90 | −0.36% | $63.21 | ₹52,271 | AED 232.09 |
| Aug 31Thu | $1,967.10 | +0.06% | $63.24 | ₹52,291 | AED 232.23 |
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 2023: FAQ
What was the price of gold in August 2023?
Gold traded between $1,915.20 and $1,976.10 per troy ounce (daily closes) in August 2023, averaging $1,948.75. It closed the month at $1,967.10.
How much did gold go down in August 2023?
Gold fell 0.6%, from $1,978.80 to $1,967.10. The biggest daily rise was +1.1% on August 22, 2023 and the biggest fall −0.7% on August 16, 2023.
What was the gold price on August 1, 2023?
Gold closed at $1,975.00 per troy ounce on August 1, 2023, the first trading day of the month. 24K India, ₹ per 10 g: ₹52,263.
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 2023?
Gold fell 0.0% in Indian rupee terms in August 2023, compared with −0.6% in US dollars.
Did gold beat stocks in August 2023?
Yes. Gold was −0.6% for the month, against −1.6% for the S&P 500 with dividends.
How did gold react to the Fed and US data in August 2023?
Of 2 scheduled US releases this month, the biggest move came after the CPI inflation (July 2023) on 10 August: −0.1%. The full list with each reaction is on this page.
Did gold keep up with inflation in August 2023?
US consumer prices (CPI) changed +0.44% in August, so gold's real (inflation-adjusted) change was about −1.0%.
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 2023}, howpublished = {\url{https://goldprice.corgano.com/gold-price-history/2023/august}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-11-01}}