Gold Price in October 2023
In October 2023, gold rose 6.9%, from $1,866.10 at the end of September to $1,994.30 per troy ounce on October 31, 2023. The highest close was $2,005.60 on October 30, 2023, the lowest $1,831.80 on October 5, 2023, and the average over 22 trading days was $1,928.62. Today's price is 94.4% higher than the October 2023 close.
Gold ended October higher. What usually happens in November after a higher October →
- Gold rose 6.9% in US dollars in October 2023, leaving it up 9.2% for the year to date.
- Measured in other currencies, the change ranged from +4.3% in PKR to +10.0% in TRY, because exchange rates moved too.
- It did better than silver (+2.7%) and US stocks (−2.1%), and worse than bitcoin (+28.6%).
- It closed higher on 13 trading days and lower on 9, with an average daily move of 0.62%.
- At the end of the month it was 3.6% below its highest close since 2000.
- Gold/silver ratio: 83.9 → 87.3.
- The biggest reaction to a scheduled US release was to the Jobs report (September 2023) on 6 October: +0.7% that day.
Gold price chart, October 2023
US dollars per troy ounce · daily closeGold in other currencies, October 2023
| Currency | Change in the month |
|---|---|
| TRY | +10.0% |
| CAD | +9.5% |
| AUD | +7.8% |
| GBP | +7.2% |
| CNY | +7.0% |
| INR | +7.0% |
| EGP | +6.8% |
| JPY | +6.7% |
| EUR | +6.4% |
| ZAR | +6.1% |
| CHF | +5.4% |
| PKR | +4.3% |
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, October 2023
| Asset | Change (USD) |
|---|---|
| Gold | +6.9% |
| Silver | +2.7% |
| Bitcoin | +28.6% |
| S&P 500 (with dividends) | −2.1% |
| US inflation (CPI, month) | −0.04% |
| Gold, year to date (end of October) | +9.2% |
| Gold/silver ratio | 83.9 → 87.3 |
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 October 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 6 Oct | Jobs report (September 2023) | — | +0.7% |
| Thu 12 Oct | CPI inflation (September 2023) | — | −0.2% |
Key Events in October 2023
- Saturday, October 7Hamas launches attacks on Israel, starting the Gaza war. SourceGold: +1.0% next trading day (Oct 9)
Daily Gold Prices, October 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 |
|---|---|---|---|---|---|
| Oct 2Mon | $1,847.20 | −1.01% | $59.39 | ₹49,506 | AED 218.08 |
| Oct 3Tue | $1,841.50 | −0.31% | $59.21 | ₹49,277 | AED 217.40 |
| Oct 4Wed | $1,834.80 | −0.36% | $58.99 | ₹49,227 | AED 216.61 |
| Oct 5Thu | $1,831.80 | −0.16% | $58.89 | ₹49,014 | AED 216.26 |
| Oct 6Fri | $1,845.20 | +0.73% | $59.32 | ₹49,373 | AED 217.84 |
| Oct 9Mon | $1,864.30 | +1.04% | $59.94 | ₹49,911 | AED 220.09 |
| Oct 10Tue | $1,875.30 | +0.59% | $60.29 | ₹50,194 | AED 221.40 |
| Oct 11Wed | $1,887.30 | +0.64% | $60.68 | ₹50,495 | AED 222.81 |
| Oct 12Thu | $1,883.00 | −0.23% | $60.54 | ₹50,407 | AED 222.30 |
| Oct 13Fri | $1,941.50 | +3.11% | $62.42 | ₹51,973 | AED 229.21 |
| Oct 16Mon | $1,934.30 | −0.37% | $62.19 | ₹51,741 | AED 228.36 |
| Oct 17Tue | $1,935.70 | +0.07% | $62.23 | ₹51,819 | AED 228.56 |
| Oct 18Wed | $1,968.30 | +1.68% | $63.28 | ₹52,694 | AED 232.37 |
| Oct 19Thu | $1,980.50 | +0.62% | $63.67 | ₹52,928 | AED 233.81 |
| Oct 20Fri | $1,994.40 | +0.70% | $64.12 | ₹53,299 | AED 235.45 |
| Oct 23Mon | $1,987.80 | −0.33% | $63.91 | ₹53,063 | AED 234.67 |
| Oct 24Tue | $1,986.10 | −0.09% | $63.85 | ₹52,992 | AED 234.47 |
| Oct 25Wed | $1,994.90 | +0.44% | $64.14 | ₹53,344 | AED 235.51 |
| Oct 26Thu | $1,997.40 | +0.13% | $64.22 | ₹53,482 | AED 235.81 |
| Oct 27Fri | $1,998.50 | +0.06% | $64.25 | ₹53,512 | AED 235.94 |
| Oct 30Mon | $2,005.60 | +0.36% | $64.48 | ₹53,786 | AED 236.81 |
| Oct 31Tue | $1,994.30 | −0.56% | $64.12 | ₹53,408 | AED 235.44 |
How October usually goes for gold
In the 20 years from 2006 to 2025, gold rose in October 12 times out of 20, with an average move of +0.6% and a median of +1.6%. Every October since 1971 →
Gold in October 2023: FAQ
What was the price of gold in October 2023?
Gold traded between $1,831.80 and $2,005.60 per troy ounce (daily closes) in October 2023, averaging $1,928.62. It closed the month at $1,994.30.
How much did gold go up in October 2023?
Gold rose 6.9%, from $1,866.10 to $1,994.30. The biggest daily rise was +3.1% on October 13, 2023 and the biggest fall −1.0% on October 2, 2023.
What was the gold price on October 2, 2023?
Gold closed at $1,847.20 per troy ounce on October 2, 2023, the first trading day of the month. 24K India, ₹ per 10 g: ₹49,506.
Is October usually a good month for gold?
In the 20 years from 2006 to 2025, gold rose in October 12 times out of 20, with an average move of +0.6% and a median of +1.6%. Past seasonal patterns are not a reliable guide to any single year.
How much did gold change in rupees in October 2023?
Gold rose 7.0% in Indian rupee terms in October 2023, compared with +6.9% in US dollars.
Did gold beat stocks in October 2023?
Yes. Gold was +6.9% for the month, against −2.1% for the S&P 500 with dividends.
How did gold react to the Fed and US data in October 2023?
Of 2 scheduled US releases this month, the biggest move came after the Jobs report (September 2023) on 6 October: +0.7%. The full list with each reaction is on this page.
Did gold keep up with inflation in October 2023?
US consumer prices (CPI) changed −0.04% in October, so gold's real (inflation-adjusted) change was about +6.9%.
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{corgano2026goldpriceinoctober, author = {{Corgano}}, title = {Gold Price in October 2023}, howpublished = {\url{https://goldprice.corgano.com/gold-price-history/2023/october}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-10-31}}