What was the gold price on March 2, 2022?

Gold closed at approximately $1,928.50 per troy ounce on March 2, 2022 — about $62.00 per gram and $723.20 per tola. This is the international XAU/USD spot price; local retail rates add import duties, taxes and dealer making charges.

Did gold rise or fall on March 2, 2022?

Gold fell about 0.99% on March 2, 2022 versus the previous trading session — moving from $1,947.83 to $1,928.50 per ounce.

How close did gold get to its record in March 2022?

Gold reached about $2,070 per ounce on March 8, 2022 — just short of its August 2020 all-time high near $2,075 — before reversing as the Fed began raising interest rates.

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Historical Unit Breakdown

Gold Price in Every Weight Unit — March 2, 2022

International XAU/USD gold closed at $1,929 per troy ounce on this date, equivalent to $62.00 per gram. The table below converts that reference value into every major regional gold weight unit — from the South Asian Tola, Masha and Rattito Bangladesh's Vori, Thailand's Baht, Vietnam's Lượng, Iran's Mesghal, and the Chinese Tael, Mace and Candareen.

South Asian

5 units

UnitWeightPrice (USD)

1 Tolaتولا · तोला

Pakistan, India, Nepal

11.664 g$723.20

1 Mashaماشہ

1/12 Tola

0.972 g$60.27

1 Rattiرتی

1/96 Tola · gemstones

0.1215 g$7.53

1 Vori (Bhori)ভরি

Bangladesh

11.664 g$723.20

1 Ana (Anna)আনা

1/16 Vori

0.729 g$45.20

Metric & Global

3 units

UnitWeightPrice (USD)

1 Gramg

Worldwide standard

1 g$62.00

1 Kilogramkg

Bulk trade

1,000 g$62,003

1 Troy Ounceoz t

LBMA bullion standard

31.1035 g$1,929

East & Southeast Asian

6 units

UnitWeightPrice (USD)

1 HK Tael兩

Hong Kong, Macau

37.429 g$2,321

1 CN Tael兩

Mainland China

31.25 g$1,938

1 Mace錢

1/10 HK Tael

3.7429 g$232.07

1 Candareen分

1/100 HK Tael

0.37429 g$23.21

1 Bahtบาท

Thailand

15.244 g$945.17

1 Luong (Lượng)lượng

Vietnam

37.5 g$2,325

Middle Eastern

2 units

UnitWeightPrice (USD)

1 Mesghalمثقال

Iran

4.6083 g$285.73

1 Mithqalمثقال

Saudi, UAE, Egypt

4.25 g$263.51

Imperial & Western

2 units

UnitWeightPrice (USD)

1 Pennyweightdwt

1/20 Troy Oz

1.55517 g$96.42

1 Graingr

1/480 Troy Oz

0.064799 g$4.02

How to read this historical table

Every price above is derived directly from the international XAU/USD spot rate on this date ($1,929/oz) using fixed weight constants — 1 troy ounce = 31.1035 g, 1 tola = 11.664 g, 1 baht = 15.244 g, 1 lượng = 37.5 g, 1 mesghal = 4.6083 g, and so on. These multipliers are mathematical, not market estimates, so the conversions are exact.

Prices are shown in US dollars only. Historical local-currency gold rates depended on the exchange rate at the time (March 2, 2022 rates for PKR, INR, AED and others were materially different from today). For an accurate same-date local-currency value, see the country-specific archive link below this section when available.

The figures are pure metal value at international parity — they do not include the import duty, VAT/GST, jeweller making charges, or dealer margin that would have applied at retail counters on this date. For wedding-jewellery or coin pricing context, retail in 22K commonly added 5–15% on top of the spot value shown here.

On this day — March 2, 2022

Gold fell 0.99% from the prior trading session ($1,947.83 → $1,928.50 per ounce).

Wednesday — a normal trading day. FOMC announcements (when scheduled) typically come on Wednesdays at 2 PM ET, often producing intraday gold volatility.

Day 61 of 365 · Q1 2022 · 16.7% through the year

March 2022 gold market: Near-record spike, then the first Fed hike

Volatile

A near-record war spike met the start of Fed tightening.

Gold briefly touched about $2,070 on March 8 — within a whisker of its record — as the Ukraine war and commodity shock peaked. It then reversed as the Federal Reserve delivered its first rate hike on March 16, closing the month near $1,940.

What drove gold in March 2022

war and commodity-price peak
first Fed rate hike (Mar 16, +25bp)
extreme volatility
real yields beginning to climb

Themes#geopolitics#Fed policy#near-record high

Key events in March 2022

Mar 8Gold spikes to ~$2,070, near its all-time high
Mar 16Fed hikes rates for the first time since 2018

What happened next

The hiking cycle that began here would pressure gold for the next six months.

For gold buyers

The March 8 near-record proved a trap; the Fed's tightening campaign that began days later would pressure gold for most of the year.

Mar 2 across the years — 2020 → 2021

+7.8% over 1 years

20202021

Year	Mar 2 close	vs prior
Mar 2, 2021	$1,723.90	+7.76%	View
Mar 2, 2020	$1,599.70	—	View

Each row is the verified XAU/USD spot close for Mar 2 of that year. Click any row to open the full daily archive (with country tables for Mar 2, 2020+).