Gold Price in September 2023
In September 2023, gold fell 5.1%, from $1,967.10 at the end of August to $1,866.10 per troy ounce on September 29, 2023. The highest close was $1,967.10 on September 1, 2023, the lowest $1,866.10 on September 28, 2023, and the average over 24 trading days was $1,933.12. Today's price is 107.7% higher than the September 2023 close.
Gold ended September lower. What usually happens in October after a lower September →
- Gold fell 5.1% in US dollars in September 2023, leaving it up 2.2% for the year to date.
- Measured in other currencies, the change ranged from −10.6% in PKR to −1.5% in GBP, because exchange rates moved too.
- It did better than silver (−8.2%), and worse than bitcoin (+4.0%) and US stocks (−4.8%).
- It closed higher on 8 trading days and lower on 11, with an average daily move of 0.41%.
- At the end of the month it was 9.8% below its highest close since 2000.
- Gold/silver ratio: 81.2 → 83.9.
- The biggest reaction to a scheduled US release was to the Fed rate decision and projections on 20 September: −1.1% over two sessions.
Gold price chart, September 2023
US dollars per troy ounce · daily closeGold in other currencies, September 2023
| Currency | Change in the month |
|---|---|
| GBP | −1.5% |
| CHF | −1.7% |
| TRY | −2.4% |
| EUR | −2.6% |
| JPY | −2.6% |
| AUD | −4.2% |
| ZAR | −4.4% |
| INR | −4.5% |
| CNY | −4.6% |
| EGP | −5.1% |
| CAD | −5.3% |
| PKR | −10.6% |
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, September 2023
| Asset | Change (USD) |
|---|---|
| Gold | −5.1% |
| Silver | −8.2% |
| Bitcoin | +4.0% |
| S&P 500 (with dividends) | −4.8% |
| US inflation (CPI, month) | +0.25% |
| Gold, year to date (end of September) | +2.2% |
| Gold/silver ratio | 81.2 → 83.9 |
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 September 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 1 Sep | Jobs report (August 2023) | — | 0.0% |
| Wed 13 Sep | CPI inflation (August 2023) | — | 0.0% |
| Wed 20 Sep | Fed rate decision + projections | Rates unchanged (5.25–5.50%) | −1.1% |
Daily Gold Prices, September 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 |
|---|---|---|---|---|---|
| Sep 1Fri | $1,967.10 | 0.00% | $63.24 | ₹52,291 | AED 232.23 |
| Sep 4Mon | $1,952.60 | −0.74% | $62.78 | ₹51,939 | AED 230.52 |
| Sep 5Tue | $1,944.20 | −0.43% | $62.51 | ₹51,935 | AED 229.58 |
| Sep 6Wed | $1,942.50 | −0.09% | $62.45 | ₹51,997 | AED 229.33 |
| Sep 7Thu | $1,942.70 | +0.01% | $62.46 | ₹51,992 | AED 229.40 |
| Sep 8Fri | $1,942.70 | 0.00% | $62.46 | ₹51,992 | AED 229.40 |
| Sep 10Sun | $1,947.20 | +0.23% | $62.60 | ₹51,981 | AED 229.92 |
| Sep 11Mon | $1,935.10 | −0.62% | $62.21 | ₹51,603 | AED 228.46 |
| Sep 12Tue | $1,932.50 | −0.13% | $62.13 | ₹51,471 | AED 228.15 |
| Sep 13Wed | $1,932.80 | +0.02% | $62.14 | ₹51,538 | AED 228.24 |
| Sep 14Thu | $1,946.20 | +0.69% | $62.57 | ₹51,952 | AED 229.76 |
| Sep 15Fri | $1,946.20 | 0.00% | $62.57 | ₹51,952 | AED 229.76 |
| Sep 17Sun | $1,953.40 | +0.37% | $62.80 | ₹52,181 | AED 230.65 |
| Sep 18Mon | $1,953.70 | +0.02% | $62.81 | ₹52,295 | AED 230.64 |
| Sep 19Tue | $1,967.10 | +0.69% | $63.24 | ₹52,616 | AED 232.22 |
| Sep 20Wed | $1,939.60 | −1.40% | $62.36 | ₹51,813 | AED 228.98 |
| Sep 21Thu | $1,945.60 | +0.31% | $62.55 | ₹51,851 | AED 229.69 |
| Sep 22Fri | $1,945.60 | 0.00% | $62.55 | ₹51,851 | AED 229.69 |
| Sep 24Sun | $1,936.60 | −0.46% | $62.26 | ₹51,663 | AED 228.66 |
| Sep 25Mon | $1,919.80 | −0.87% | $61.72 | ₹51,248 | AED 226.65 |
| Sep 26Tue | $1,890.90 | −1.51% | $60.79 | ₹50,640 | AED 223.24 |
| Sep 27Wed | $1,878.60 | −0.65% | $60.40 | ₹50,265 | AED 221.78 |
| Sep 28Thu | $1,866.10 | −0.67% | $60.00 | ₹49,913 | AED 220.31 |
| Sep 29Fri | $1,866.10 | 0.00% | $60.00 | ₹49,913 | AED 220.31 |
How September usually goes for gold
In the 20 years from 2006 to 2025, gold rose in September 8 times out of 20, with an average move of 0.0% and a median of −2.2%. Every September since 1971 →
Gold in September 2023: FAQ
What was the price of gold in September 2023?
Gold traded between $1,866.10 and $1,967.10 per troy ounce (daily closes) in September 2023, averaging $1,933.12. It closed the month at $1,866.10.
How much did gold go down in September 2023?
Gold fell 5.1%, from $1,967.10 to $1,866.10. The biggest daily rise was +0.7% on September 14, 2023 and the biggest fall −1.5% on September 26, 2023.
What was the gold price on September 1, 2023?
Gold closed at $1,967.10 per troy ounce on September 1, 2023, the first trading day of the month. 24K India, ₹ per 10 g: ₹52,291.
Is September usually a good month for gold?
In the 20 years from 2006 to 2025, gold rose in September 8 times out of 20, with an average move of 0.0% and a median of −2.2%. Past seasonal patterns are not a reliable guide to any single year.
How much did gold change in rupees in September 2023?
Gold fell 4.5% in Indian rupee terms in September 2023, compared with −5.1% in US dollars.
Did gold beat stocks in September 2023?
No. Gold was −5.1% for the month, against −4.8% for the S&P 500 with dividends.
How did gold react to the Fed and US data in September 2023?
Of 3 scheduled US releases this month, the biggest move came after the Fed rate decision + projections on 20 September: −1.1%. The full list with each reaction is on this page.
Did gold keep up with inflation in September 2023?
US consumer prices (CPI) changed +0.25% in September, so gold's real (inflation-adjusted) change was about −5.4%.
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{corgano2026goldpriceinseptember, author = {{Corgano}}, title = {Gold Price in September 2023}, howpublished = {\url{https://goldprice.corgano.com/gold-price-history/2023/september}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-11-01}}