Gold Price in May 2006
In May 2006, gold fell 1.4%, from $651.80 at the end of April to $642.50 per troy ounce on May 31, 2006. The highest close was $719.80 on May 11, 2006, the lowest $637.00 on May 24, 2006, and the average over 22 trading days was $673.64. Today's price is 503.4% higher than the May 2006 close.
Gold ended May lower. What usually happens in June after a lower May →
- Gold fell 1.4% in US dollars in May 2006, leaving it up 24.3% for the year to date.
- Measured in other currencies, the change ranged from −3.6% in GBP to +15.0% in TRY, because exchange rates moved too.
- It did better than silver (−8.2%) and US stocks (−2.9%).
- It closed higher on 14 trading days and lower on 8, with an average daily move of 1.58%.
- At the end of the month it was 10.7% below its highest close since 2000.
- Gold/silver ratio: 48.2 → 51.8.
Gold price chart, May 2006
US dollars per troy ounce · daily closeGold in other currencies, May 2006
| Currency | Change in the month |
|---|---|
| TRY | +15.0% |
| ZAR | +8.5% |
| INR | +1.2% |
| EGP | −1.1% |
| CNY | −1.3% |
| PKR | −2.1% |
| JPY | −2.6% |
| CAD | −2.7% |
| EUR | −2.8% |
| CHF | −2.9% |
| GBP | −3.6% |
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 2006
| Asset | Change (USD) |
|---|---|
| Gold | −1.4% |
| Silver | −8.2% |
| S&P 500 (with dividends) | −2.9% |
| US inflation (CPI, month) | +0.50% |
| Gold, year to date (end of May) | +24.3% |
| Gold/silver ratio | 48.2 → 51.8 |
Month-end to month-end. US CPI is the official monthly index (not seasonally adjusted), published the following month.
Daily Gold Prices, May 2006
Closing price for every trading day, with the same price in INR and AED at that day's exchange rate.
| Date | Close (USD per oz) | Change | USD per gram | 24K India, ₹ per 10 g | 24K UAE, AED per gram |
|---|---|---|---|---|---|
| May 1Mon | $657.50 | +0.87% | $21.14 | ₹9,470 | AED 77.61 |
| May 2Tue | $664.70 | +1.10% | $21.37 | ₹9,574 | AED 78.47 |
| May 3Wed | $665.90 | +0.18% | $21.41 | ₹9,611 | AED 78.60 |
| May 4Thu | $674.20 | +1.25% | $21.68 | ₹9,704 | AED 79.61 |
| May 5Fri | $682.20 | +1.19% | $21.93 | ₹9,820 | AED 80.55 |
| May 8Mon | $677.80 | −0.64% | $21.79 | ₹9,756 | AED 80.04 |
| May 9Tue | $699.40 | +3.19% | $22.49 | ₹10,076 | AED 82.81 |
| May 10Wed | $703.70 | +0.61% | $22.62 | ₹10,140 | AED 83.07 |
| May 11Thu | $719.80 | +2.29% | $23.14 | ₹10,373 | AED 84.97 |
| May 12Fri | $710.30 | −1.32% | $22.84 | ₹10,237 | AED 83.85 |
| May 15Mon | $683.60 | −3.76% | $21.98 | ₹9,889 | AED 80.70 |
| May 16Tue | $691.50 | +1.16% | $22.23 | ₹9,921 | AED 81.63 |
| May 17Wed | $690.50 | −0.14% | $22.20 | ₹10,079 | AED 81.51 |
| May 18Thu | $679.60 | −1.58% | $21.85 | ₹9,897 | AED 80.22 |
| May 19Fri | $656.70 | −3.37% | $21.11 | ₹9,563 | AED 77.52 |
| May 22Mon | $657.00 | +0.05% | $21.12 | ₹9,586 | AED 77.53 |
| May 23Tue | $673.00 | +2.44% | $21.64 | ₹9,884 | AED 79.44 |
| May 24Wed | $637.00 | −5.35% | $20.48 | ₹9,374 | AED 75.19 |
| May 25Thu | $648.40 | +1.79% | $20.85 | ₹9,538 | AED 76.53 |
| May 26Fri | $650.90 | +0.39% | $20.93 | ₹9,575 | AED 76.83 |
| May 30Tue | $653.90 | +0.46% | $21.02 | ₹9,704 | AED 77.18 |
| May 31Wed | $642.50 | −1.74% | $20.66 | ₹9,527 | AED 75.84 |
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 2006: FAQ
What was the price of gold in May 2006?
Gold traded between $637.00 and $719.80 per troy ounce (daily closes) in May 2006, averaging $673.64. It closed the month at $642.50.
How much did gold go down in May 2006?
Gold fell 1.4%, from $651.80 to $642.50. The biggest daily rise was +3.2% on May 9, 2006 and the biggest fall −5.3% on May 24, 2006.
What was the gold price on May 1, 2006?
Gold closed at $657.50 per troy ounce on May 1, 2006, the first trading day of the month. 24K India, ₹ per 10 g: ₹9,470.
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.
How much did gold change in rupees in May 2006?
Gold rose 1.2% in Indian rupee terms in May 2006, compared with −1.4% in US dollars.
Did gold beat stocks in May 2006?
Yes. Gold was −1.4% for the month, against −2.9% for the S&P 500 with dividends.
Did gold keep up with inflation in May 2006?
US consumer prices (CPI) changed +0.50% in May, so gold's real (inflation-adjusted) change was about −1.9%.
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 2006}, howpublished = {\url{https://goldprice.corgano.com/gold-price-history/2006/may}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-10-31}}