Gold Price in May 2002
In May 2002, gold rose 5.7%, from $308.90 at the end of April to $326.50 per troy ounce on May 31, 2002. The highest close was $326.50 on May 31, 2002, the lowest $307.30 on May 14, 2002, and the average over 22 trading days was $314.63. Today's price is 1,087.4% higher than the May 2002 close.
Gold ended May higher. What usually happens in June after a higher May →
- Gold rose 5.7% in US dollars in May 2002, leaving it up 17.2% for the year to date.
- Measured in other currencies, the change ranged from +3.1% in JPY to +5.7% in PKR, because exchange rates moved too.
- It did better than US stocks (−0.7%), and worse than silver (+10.9%).
- It closed higher on 16 trading days and lower on 6, with an average daily move of 0.57%.
- Gold/silver ratio: 68.2 → 65.0.
Gold price chart, May 2002
US dollars per troy ounce · daily closeGold in other currencies, May 2002
| Currency | Change in the month |
|---|---|
| PKR | +5.7% |
| CNY | +5.7% |
| EGP | +4.7% |
| JPY | +3.1% |
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, May 2002
| Asset | Change (USD) |
|---|---|
| Gold | +5.7% |
| Silver | +10.9% |
| S&P 500 (with dividends) | −0.7% |
| US inflation (CPI, month) | 0.00% |
| Gold, year to date (end of May) | +17.2% |
| Gold/silver ratio | 68.2 → 65.0 |
Month-end to month-end. US CPI is the official monthly index (not seasonally adjusted), published the following month.
Daily Gold Prices, May 2002
Closing price for every trading day.
| Date | Close (USD per oz) | Change | USD per gram |
|---|---|---|---|
| May 1Wed | $309.10 | +0.06% | $9.94 |
| May 2Thu | $308.30 | −0.26% | $9.91 |
| May 3Fri | $312.20 | +1.27% | $10.04 |
| May 6Mon | $311.20 | −0.32% | $10.01 |
| May 7Tue | $311.60 | +0.13% | $10.02 |
| May 8Wed | $308.20 | −1.09% | $9.91 |
| May 9Thu | $309.50 | +0.42% | $9.95 |
| May 10Fri | $311.00 | +0.48% | $10.00 |
| May 13Mon | $310.60 | −0.13% | $9.99 |
| May 14Tue | $307.30 | −1.06% | $9.88 |
| May 15Wed | $308.70 | +0.46% | $9.92 |
| May 16Thu | $309.80 | +0.36% | $9.96 |
| May 17Fri | $310.60 | +0.26% | $9.99 |
| May 20Mon | $315.70 | +1.64% | $10.15 |
| May 21Tue | $315.80 | +0.03% | $10.15 |
| May 22Wed | $318.00 | +0.70% | $10.22 |
| May 23Thu | $322.50 | +1.42% | $10.37 |
| May 24Fri | $320.40 | −0.65% | $10.30 |
| May 28Tue | $323.90 | +1.09% | $10.41 |
| May 29Wed | $325.40 | +0.46% | $10.46 |
| May 30Thu | $325.50 | +0.03% | $10.47 |
| May 31Fri | $326.50 | +0.31% | $10.50 |
How May usually goes for gold
In the 20 years from 2006 to 2025, gold rose in May 9 times out of 20, with an average move of −0.2% and a median of −1.1%. Every May since 1971 →
Gold in May 2002: FAQ
What was the price of gold in May 2002?
Gold traded between $307.30 and $326.50 per troy ounce (daily closes) in May 2002, averaging $314.63. It closed the month at $326.50.
How much did gold go up in May 2002?
Gold rose 5.7%, from $308.90 to $326.50. The biggest daily rise was +1.6% on May 20, 2002 and the biggest fall −1.1% on May 8, 2002.
What was the gold price on May 1, 2002?
Gold closed at $309.10 per troy ounce on May 1, 2002, the first trading day of the month.
Is May usually a good month for gold?
In the 20 years from 2006 to 2025, gold rose in May 9 times out of 20, with an average move of −0.2% and a median of −1.1%. Past seasonal patterns are not a reliable guide to any single year.
Did gold beat stocks in May 2002?
Yes. Gold was +5.7% for the month, against −0.7% for the S&P 500 with dividends.
Did gold keep up with inflation in May 2002?
US consumer prices (CPI) changed 0.00% in May, so gold's real (inflation-adjusted) change was about +5.7%.
Cite this page
For essays, articles and research. Prices on this page update daily, so the citations include today's date as the date you accessed it.
@misc{corgano2026goldpriceinmay, author = {{Corgano}}, title = {Gold Price in May 2002}, howpublished = {\url{https://goldprice.corgano.com/gold-price-history/2002/may}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-10-31}}