What was the gold price on September 8, 2024?

Gold closed at approximately $2,507.27 per troy ounce on September 8, 2024 — about $80.61 per gram and $940.24 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 September 8, 2024?

Gold fell about 0.87% on September 8, 2024 versus the previous trading session — moving from $2,529.30 to $2,507.27 per ounce.

How did the September 2024 Fed cut affect gold?

The Fed's larger-than-usual 0.50-point rate cut on September 18, 2024 lowered the opportunity cost of holding gold and weakened the dollar, helping push prices above $2,600 per ounce.

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Historical Unit Breakdown

Gold Price in Every Weight Unit — September 8, 2024

International XAU/USD gold closed at $2,507 per troy ounce on this date, equivalent to $80.61 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$940.24

1 Mashaماشہ

1/12 Tola

0.972 g$78.35

1 Rattiرتی

1/96 Tola · gemstones

0.1215 g$9.79

1 Vori (Bhori)ভরি

Bangladesh

11.664 g$940.24

1 Ana (Anna)আনা

1/16 Vori

0.729 g$58.76

Metric & Global

3 units

UnitWeightPrice (USD)

1 Gramg

Worldwide standard

1 g$80.61

1 Kilogramkg

Bulk trade

1,000 g$80,610

1 Troy Ounceoz t

LBMA bullion standard

31.1035 g$2,507

East & Southeast Asian

6 units

UnitWeightPrice (USD)

1 HK Tael兩

Hong Kong, Macau

37.429 g$3,017

1 CN Tael兩

Mainland China

31.25 g$2,519

1 Mace錢

1/10 HK Tael

3.7429 g$301.72

1 Candareen分

1/100 HK Tael

0.37429 g$30.17

1 Bahtบาท

Thailand

15.244 g$1,229

1 Luong (Lượng)lượng

Vietnam

37.5 g$3,023

Middle Eastern

2 units

UnitWeightPrice (USD)

1 Mesghalمثقال

Iran

4.6083 g$371.48

1 Mithqalمثقال

Saudi, UAE, Egypt

4.25 g$342.59

Imperial & Western

2 units

UnitWeightPrice (USD)

1 Pennyweightdwt

1/20 Troy Oz

1.55517 g$125.36

1 Graingr

1/480 Troy Oz

0.064799 g$5.22

How to read this historical table

Every price above is derived directly from the international XAU/USD spot rate on this date ($2,507/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 (September 8, 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 — September 8, 2024

Gold fell 0.87% from the prior trading session ($2,529.30 → $2,507.27 per ounce).

Sunday — the international gold market is closed. Spot quotes carry forward from the prior Friday close. Retail rates in jewellery markets may differ slightly based on local Sunday hours.

Day 252 of 366 · Q3 2024 · 68.9% through the year

September 2024 gold market: Fed's jumbo cut supercharges gold

Bullish

An outsized Fed cut sent gold sprinting past $2,600.

The Federal Reserve began its easing cycle with an outsized 0.50-point cut on September 18, and gold surged past $2,600. Lower rates reduce the opportunity cost of holding non-yielding gold, and the market wasted no time pricing in more cuts to come.

The September cut mattered less for its size than for what it confirmed: the rate-cut thesis that had powered gold all year was now real, not just anticipated. Falling policy rates lower the 'opportunity cost' of holding gold — the yield an investor gives up by owning metal instead of bonds. With the Fed now easing into a still-resilient economy, gold's two biggest tailwinds, falling real yields and a softer dollar, were reinforcing each other.

What drove gold in September 2024

Fed begins easing with a 50bp cut (Sep 18)
falling real yields
weaker dollar
momentum and ETF inflows returning

Themes#Fed policy#rate cuts#opportunity cost

Key events in September 2024

Sep 18Fed cuts rates 50bp; gold pushes past $2,600

What happened next

Gold extended to records above $2,700 in October before the US election.

For gold buyers

September's jumbo cut validated the rate-cut thesis that had driven gold all year — the easing cycle had finally begun.

Key terms this month

Opportunity cost:: The return given up by choosing one asset over another. Lower interest rates reduce the opportunity cost of holding non-yielding gold.

Sep 8 across the years — 2020 → 2023

+0.9% over 3 years

20202023

Year	Sep 8 close	vs prior
Sep 8, 2023	$1,927.80	+12.78%	View
Sep 8, 2022	$1,709.40	-4.29%	View
Sep 8, 2021	$1,786.00	-6.54%	View
Sep 8, 2020	$1,911.00	—	View

Each row is the verified XAU/USD spot close for Sep 8 of that year. Click any row to open the full daily archive (with country tables for Sep 8, 2020+).