Gold Price in 2003

In 2003, the price of gold averaged $363 per troy ounce, up 17.1% from the year before. This page covers the 2003 average, high, low, and year-end close, the events that moved the market, and what that gold would be worth in today's dollars.

2003 Average

$363

LBMA annual average, USD/oz

Change vs 2002

+17.1%

from $310 in 2002

2003 High

$418

from daily trading data

2003 Low

$319

from daily trading data

Year-End Close

$416

last trading day of 2003

What happened to the gold price in 2003

Gold averaged $363 per troy ounce in 2003, climbing 17.1% from the $310 average of 2002. Daily trading data shows gold moved between a low of $319 and a high of $418 during the year, ending 2003 at $416. The notable development of 2003: Iraq War begins.

The 2000s brought gold's modern bull market. The dot-com bust, the September 11 attacks, a weakening dollar, and finally the 2008 financial crisis rebuilt investment demand, carrying gold past $1,000 per ounce for the first time.

Adjusted for inflation, gold's 2003 average of $363 equals about $636 in today's dollars. The conversion uses US Bureau of Labor Statistics CPI-U annual averages, so treat it as a close approximation rather than an exact figure.

Frequently Asked Questions

What was the price of gold in 2003?

Gold averaged $363 per troy ounce in 2003, based on LBMA annual average data. Daily prices ranged from a low of $319 to a high of $418, and the year closed at $416. That average was up 17.1% from $310 in 2002.

What is a 2003 gold price worth in today's dollars?

Adjusted with the US Consumer Price Index, gold's 2003 average of $363 works out to roughly $636 in today's dollars, using 2025 as the CPI base year. The conversion uses BLS CPI-U annual averages, so treat it as a close approximation rather than an exact figure.

What moved the gold price in 2003?

The defining story of 2003: Iraq War begins. Against that backdrop, the annual average climbed 17.1%, from $310 in 2002 to $363.

Annual averages are LBMA prices per troy ounce in US dollars. Where shown, the yearly high, low, and close come from MetalCharts daily historical data and may differ slightly from figures published elsewhere. Inflation adjustments use BLS CPI-U annual averages.