Gold Price in August 2006
In August 2006, gold fell 1.3%, from $634.20 at the end of July to $625.90 per troy ounce on August 31, 2006. The highest close was $651.60 on August 2, 2006, the lowest $610.70 on August 29, 2006, and the average over 23 trading days was $630.07. Today's price is 538.4% higher than the August 2006 close.
- Gold fell 1.3% in US dollars in August 2006, leaving it up 21.0% for the year to date.
- Measured in other currencies, the change ranged from −3.6% in CAD to +2.4% in ZAR, because exchange rates moved too.
- It did worse than silver (+13.9%) and US stocks (+2.4%).
- It closed higher on 9 trading days and lower on 14, with an average daily move of 0.93%.
- At the end of the month it was 13.0% below its highest close since 2000.
- Gold/silver ratio: 56.0 → 48.5.
Gold price chart, August 2006
US dollars per troy ounce · daily closeGold in other currencies, August 2006
| Currency | Change in the month |
|---|---|
| ZAR | +2.4% |
| JPY | +1.1% |
| AUD | −1.0% |
| INR | −1.2% |
| CHF | −1.3% |
| EGP | −1.3% |
| PKR | −1.3% |
| CNY | −1.5% |
| EUR | −1.6% |
| TRY | −2.9% |
| GBP | −3.1% |
| CAD | −3.6% |
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, August 2006
| Asset | Change (USD) |
|---|---|
| Gold | −1.3% |
| Silver | +13.9% |
| S&P 500 (with dividends) | +2.4% |
| US inflation (CPI, month) | +0.20% |
| Gold, year to date (end of August) | +21.0% |
| Gold/silver ratio | 56.0 → 48.5 |
Month-end to month-end. US CPI is the official monthly index (not seasonally adjusted), published the following month.
Daily Gold Prices, August 2006
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 | $646.30 | +1.91% | $20.78 | ₹9,650 | AED 76.29 |
| Aug 2Wed | $651.60 | +0.82% | $20.95 | ₹9,741 | AED 76.93 |
| Aug 3Thu | $644.90 | −1.03% | $20.73 | ₹9,626 | AED 76.12 |
| Aug 4Fri | $644.00 | −0.14% | $20.71 | ₹9,614 | AED 76.03 |
| Aug 7Mon | $647.80 | +0.59% | $20.83 | ₹9,685 | AED 76.47 |
| Aug 8Tue | $645.70 | −0.32% | $20.76 | ₹9,633 | AED 76.23 |
| Aug 9Wed | $650.50 | +0.74% | $20.91 | ₹9,704 | AED 76.79 |
| Aug 10Thu | $634.90 | −2.40% | $20.41 | ₹9,453 | AED 74.94 |
| Aug 11Fri | $633.50 | −0.22% | $20.37 | ₹9,456 | AED 74.79 |
| Aug 14Mon | $628.50 | −0.79% | $20.21 | ₹9,394 | AED 74.19 |
| Aug 15Tue | $622.50 | −0.95% | $20.01 | ₹9,294 | AED 73.48 |
| Aug 16Wed | $628.70 | +1.00% | $20.21 | ₹9,393 | AED 74.21 |
| Aug 17Thu | $615.40 | −2.12% | $19.79 | ₹9,159 | AED 72.64 |
| Aug 18Fri | $612.10 | −0.54% | $19.68 | ₹9,130 | AED 72.28 |
| Aug 21Mon | $625.70 | +2.22% | $20.12 | ₹9,332 | AED 73.88 |
| Aug 22Tue | $624.60 | −0.18% | $20.08 | ₹9,316 | AED 73.75 |
| Aug 23Wed | $623.70 | −0.14% | $20.05 | ₹9,303 | AED 73.63 |
| Aug 24Thu | $619.50 | −0.67% | $19.92 | ₹9,251 | AED 73.14 |
| Aug 25Fri | $622.00 | +0.40% | $20.00 | ₹9,289 | AED 73.45 |
| Aug 28Mon | $615.30 | −1.08% | $19.78 | ₹9,197 | AED 72.65 |
| Aug 29Tue | $610.70 | −0.75% | $19.63 | ₹9,109 | AED 72.11 |
| Aug 30Wed | $617.70 | +1.15% | $19.86 | ₹9,193 | AED 72.94 |
| Aug 31Thu | $625.90 | +1.33% | $20.12 | ₹9,352 | AED 73.91 |
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%.
Gold in August 2006: FAQ
What was the price of gold in August 2006?
Gold traded between $610.70 and $651.60 per troy ounce (daily closes) in August 2006, averaging $630.07. It closed the month at $625.90.
How much did gold go down in August 2006?
Gold fell 1.3%, from $634.20 to $625.90. The biggest daily rise was +2.2% on August 21, 2006 and the biggest fall −2.4% on August 10, 2006.
What was the gold price on August 1, 2006?
Gold closed at $646.30 per troy ounce on August 1, 2006, the first trading day of the month. 24K India, ₹ per 10 g: ₹9,650.
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 2006?
Gold fell 1.2% in Indian rupee terms in August 2006, compared with −1.3% in US dollars.
Did gold beat stocks in August 2006?
No. Gold was −1.3% for the month, against +2.4% for the S&P 500 with dividends.
Did gold keep up with inflation in August 2006?
US consumer prices (CPI) changed +0.20% in August, so gold's real (inflation-adjusted) change was about −1.5%.