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Gold Price in Every Weight Unit — August 1, 2024
International XAU/USD gold closed at $2,470 per troy ounce on this date, equivalent to $79.42 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
1 Tolaتولا · तोला
Pakistan, India, Nepal
1 Mashaماشہ
1/12 Tola
1 Rattiرتی
1/96 Tola · gemstones
1 Vori (Bhori)ভরি
Bangladesh
1 Ana (Anna)আনা
1/16 Vori
Metric & Global
1 Gramg
Worldwide standard
1 Kilogramkg
Bulk trade
1 Troy Ounceoz t
LBMA bullion standard
East & Southeast Asian
1 HK Tael兩
Hong Kong, Macau
1 CN Tael兩
Mainland China
1 Mace錢
1/10 HK Tael
1 Candareen分
1/100 HK Tael
1 Bahtบาท
Thailand
1 Luong (Lượng)lượng
Vietnam
Middle Eastern
1 Mesghalمثقال
Iran
1 Mithqalمثقال
Saudi, UAE, Egypt
Imperial & Western
1 Pennyweightdwt
1/20 Troy Oz
1 Graingr
1/480 Troy Oz
How to read this historical table
Every price above is derived directly from the international XAU/USD spot rate on this date ($2,470/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 (August 1, 2024 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 — August 1, 2024
Gold rose 0.78% from the prior trading session ($2,451.01 → $2,470.15 per ounce).
Thursday — a normal trading day. Weekly US initial jobless claims publish at 8:30 AM ET on Thursdays, occasionally producing intraday gold movement.
Day 214 of 366 · Q3 2024 · 58.5% through the year
August 2024 gold market: Gold closes above $2,500 for the first time
BullishA first close above $2,500 on imminent Fed easing.
Gold cleared $2,500 on a closing basis for the first time in August as the Federal Reserve signalled that rate cuts were imminent and the dollar softened. The psychological milestone underscored just how far the 2024 bull run had travelled.
What drove gold in August 2024
- Fed signalling imminent cuts (Jackson Hole)
- softening dollar
- falling real yields
- sustained official-sector demand
Key events in August 2024
- Aug 16Gold closes above $2,500 for the first time
- Aug 23Fed's Powell signals cuts at Jackson Hole
What happened next
September's actual rate cut sent gold sprinting past $2,600.
For gold buyers
Crossing $2,500 confirmed the trend was accelerating, not exhausting — momentum buyers were still being rewarded.
Aug 1 across the years — 2020 → 2023
| Year | Aug 1 close | vs prior | |
|---|---|---|---|
| Aug 1, 2023 | $1,947.20 | +9.86% | View |
| Aug 1, 2022 | $1,772.40 | -0.72% | View |
| Aug 1, 2021 | $1,785.28 | -9.31% | View |
| Aug 1, 2020 | $1,968.63 | — | View |