Gold Price in May 2008
In May 2008, gold rose 2.8%, from $862.80 at the end of April to $887.30 per troy ounce on May 30, 2008. The highest close was $928.00 on May 21, 2008, the lowest $848.90 on May 1, 2008, and the average over 21 trading days was $888.20. Today's price is 336.9% higher than the May 2008 close.
Gold ended May higher. What usually happens in June after a higher May →
- Gold rose 2.8% in US dollars in May 2008, leaving it up 6.3% for the year to date.
- Measured in other currencies, the change ranged from −1.5% in TRY to +8.3% in INR, because exchange rates moved too.
- It did better than silver (+2.0%) and US stocks (+1.3%).
- It closed higher on 12 trading days and lower on 9, with an average daily move of 1.18%.
- At the end of the month it was 11.6% below its highest close since 2000.
- Gold/silver ratio: 52.3 → 52.7.
Gold price chart, May 2008
US dollars per troy ounce · daily closeGold in other currencies, May 2008
| Currency | Change in the month |
|---|---|
| INR | +8.3% |
| PKR | +5.4% |
| JPY | +4.4% |
| CHF | +3.5% |
| EUR | +3.4% |
| ZAR | +3.2% |
| GBP | +3.1% |
| EGP | +2.0% |
| CNY | +2.0% |
| AUD | +1.5% |
| CAD | +1.4% |
| TRY | −1.5% |
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 2008
| Asset | Change (USD) |
|---|---|
| Gold | +2.8% |
| Silver | +2.0% |
| S&P 500 (with dividends) | +1.3% |
| US inflation (CPI, month) | +0.84% |
| Gold, year to date (end of May) | +6.3% |
| Gold/silver ratio | 52.3 → 52.7 |
Month-end to month-end. US CPI is the official monthly index (not seasonally adjusted), published the following month.
Daily Gold Prices, May 2008
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 1Thu | $848.90 | −1.61% | $27.29 | ₹11,049 | AED 100.21 |
| May 2Fri | $856.10 | +0.85% | $27.52 | ₹11,143 | AED 101.06 |
| May 5Mon | $872.30 | +1.89% | $28.05 | ₹11,407 | AED 102.98 |
| May 6Tue | $876.00 | +0.42% | $28.16 | ₹11,636 | AED 103.42 |
| May 7Wed | $869.60 | −0.73% | $27.96 | ₹11,659 | AED 102.66 |
| May 8Thu | $880.60 | +1.26% | $28.31 | ₹11,725 | AED 103.98 |
| May 9Fri | $884.50 | +0.44% | $28.44 | ₹11,776 | AED 104.44 |
| May 12Mon | $883.70 | −0.09% | $28.41 | ₹11,925 | AED 104.30 |
| May 13Tue | $868.50 | −1.72% | $27.92 | ₹11,830 | AED 102.53 |
| May 14Wed | $865.40 | −0.36% | $27.82 | ₹11,788 | AED 102.16 |
| May 15Thu | $879.00 | +1.57% | $28.26 | ₹11,973 | AED 103.78 |
| May 16Fri | $899.00 | +2.28% | $28.90 | ₹12,245 | AED 106.14 |
| May 19Mon | $905.00 | +0.67% | $29.10 | ₹12,398 | AED 106.81 |
| May 20Tue | $919.50 | +1.60% | $29.56 | ₹12,600 | AED 108.52 |
| May 21Wed | $928.00 | +0.92% | $29.84 | ₹12,853 | AED 109.55 |
| May 22Thu | $917.90 | −1.09% | $29.51 | ₹12,575 | AED 108.37 |
| May 23Fri | $925.60 | +0.84% | $29.76 | ₹12,680 | AED 109.28 |
| May 27Tue | $907.70 | −1.93% | $29.18 | ₹12,482 | AED 107.16 |
| May 28Wed | $900.50 | −0.79% | $28.95 | ₹12,355 | AED 106.31 |
| May 29Thu | $877.20 | −2.59% | $28.20 | ₹11,995 | AED 103.56 |
| May 30Fri | $887.30 | +1.15% | $28.53 | ₹12,133 | AED 104.75 |
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 2008: FAQ
What was the price of gold in May 2008?
Gold traded between $848.90 and $928.00 per troy ounce (daily closes) in May 2008, averaging $888.20. It closed the month at $887.30.
How much did gold go up in May 2008?
Gold rose 2.8%, from $862.80 to $887.30. The biggest daily rise was +2.3% on May 16, 2008 and the biggest fall −2.6% on May 29, 2008.
What was the gold price on May 1, 2008?
Gold closed at $848.90 per troy ounce on May 1, 2008, the first trading day of the month. 24K India, ₹ per 10 g: ₹11,049.
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 2008?
Gold rose 8.3% in Indian rupee terms in May 2008, compared with +2.8% in US dollars.
Did gold beat stocks in May 2008?
Yes. Gold was +2.8% for the month, against +1.3% for the S&P 500 with dividends.
Did gold keep up with inflation in May 2008?
US consumer prices (CPI) changed +0.84% in May, so gold's real (inflation-adjusted) change was about +2.0%.
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 2008}, howpublished = {\url{https://goldprice.corgano.com/gold-price-history/2008/may}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-10-31}}