Gold Price in May 2011
In May 2011, gold fell 0.9%, from $1,556.00 at the end of April to $1,542.40 per troy ounce on May 31, 2011. The highest close was $1,556.70 on May 1, 2011, the lowest $1,479.80 on May 16, 2011, and the average over 26 trading days was $1,511.67. Today's price is 151.3% higher than the May 2011 close.
Gold ended May lower. What usually happens in June after a lower May →
- Gold fell 0.9% in US dollars in May 2011, leaving it up 8.5% for the year to date.
- Measured in other currencies, the change ranged from −3.1% in CHF to +3.6% in TRY, because exchange rates moved too.
- It did better than silver (−22.4%) and US stocks (−1.1%).
- It closed higher on 12 trading days and lower on 10, with an average daily move of 0.60%.
- It set 1 record closing high (London price, records since 1968), the last on 2 May.
- Gold/silver ratio: 32.0 → 40.9.
Gold price chart, May 2011
US dollars per troy ounce · daily closeGold in other currencies, May 2011
| Currency | Change in the month |
|---|---|
| TRY | +3.6% |
| ZAR | +2.2% |
| EUR | +2.0% |
| AUD | +1.5% |
| CAD | +0.9% |
| INR | +0.6% |
| PKR | +0.6% |
| GBP | +0.2% |
| EGP | −0.9% |
| JPY | −1.0% |
| CNY | −1.2% |
| CHF | −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 2011
| Asset | Change (USD) |
|---|---|
| Gold | −0.9% |
| Silver | −22.4% |
| S&P 500 (with dividends) | −1.1% |
| US inflation (CPI, month) | +0.47% |
| Gold, year to date (end of May) | +8.5% |
| Gold/silver ratio | 32.0 → 40.9 |
Month-end to month-end. US CPI is the official monthly index (not seasonally adjusted), published the following month.
Daily Gold Prices, May 2011
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 1Sun | $1,556.70 | +0.04% | $50.05 | ₹22,146 | AED 183.82 |
| May 2Mon | $1,540.10 | −1.07% | $49.52 | ₹21,896 | AED 181.86 |
| May 3Tue | $1,514.90 | −1.64% | $48.71 | ₹21,630 | AED 178.88 |
| May 4Wed | $1,480.90 | −2.24% | $47.61 | ₹21,102 | AED 174.87 |
| May 5Thu | $1,491.20 | +0.70% | $47.94 | ₹21,431 | AED 176.09 |
| May 6Fri | $1,491.20 | 0.00% | $47.94 | ₹21,431 | AED 176.09 |
| May 8Sun | $1,502.90 | +0.78% | $48.32 | ₹21,610 | AED 177.47 |
| May 9Mon | $1,516.60 | +0.91% | $48.76 | ₹21,752 | AED 179.09 |
| May 10Tue | $1,501.10 | −1.02% | $48.26 | ₹21,529 | AED 177.25 |
| May 11Wed | $1,506.60 | +0.37% | $48.44 | ₹21,594 | AED 177.91 |
| May 12Thu | $1,493.40 | −0.88% | $48.01 | ₹21,467 | AED 176.35 |
| May 13Fri | $1,493.40 | 0.00% | $48.01 | ₹21,467 | AED 176.35 |
| May 15Sun | $1,490.40 | −0.20% | $47.92 | ₹21,495 | AED 175.99 |
| May 16Mon | $1,479.80 | −0.71% | $47.58 | ₹21,390 | AED 174.74 |
| May 17Tue | $1,495.60 | +1.07% | $48.08 | ₹21,643 | AED 176.61 |
| May 18Wed | $1,492.20 | −0.23% | $47.98 | ₹21,570 | AED 176.20 |
| May 19Thu | $1,508.80 | +1.11% | $48.51 | ₹21,756 | AED 178.16 |
| May 20Fri | $1,508.80 | 0.00% | $48.51 | ₹21,756 | AED 178.16 |
| May 22Sun | $1,515.30 | +0.43% | $48.72 | ₹21,920 | AED 178.94 |
| May 23Mon | $1,523.20 | +0.52% | $48.97 | ₹22,111 | AED 179.87 |
| May 24Tue | $1,526.60 | +0.22% | $49.08 | ₹22,165 | AED 180.27 |
| May 25Wed | $1,522.80 | −0.25% | $48.96 | ₹22,144 | AED 179.82 |
| May 26Thu | $1,536.30 | +0.89% | $49.39 | ₹22,321 | AED 181.41 |
| May 27Fri | $1,536.30 | 0.00% | $49.39 | ₹22,321 | AED 181.41 |
| May 30Mon | $1,535.90 | −0.03% | $49.38 | ₹22,262 | AED 181.36 |
| May 31Tue | $1,542.40 | +0.42% | $49.59 | ₹22,295 | AED 182.13 |
How May usually goes for gold
In the 20 years from 2006 to 2025, gold rose in May 11 times out of 20, with an average move of +0.6% and a median of +0.3%. Every May since 1971 →
Gold in May 2011: FAQ
What was the price of gold in May 2011?
Gold traded between $1,479.80 and $1,556.70 per troy ounce (daily closes) in May 2011, averaging $1,511.67. It closed the month at $1,542.40.
How much did gold go down in May 2011?
Gold fell 0.9%, from $1,556.00 to $1,542.40. The biggest daily rise was +1.1% on May 19, 2011 and the biggest fall −2.2% on May 4, 2011.
What was the gold price on May 1, 2011?
Gold closed at $1,556.70 per troy ounce on May 1, 2011, the first trading day of the month. 24K India, ₹ per 10 g: ₹22,146.
Is May usually a good month for gold?
In the 20 years from 2006 to 2025, gold rose in May 11 times out of 20, with an average move of +0.6% and a median of +0.3%. Past seasonal patterns are not a reliable guide to any single year.
How much did gold change in rupees in May 2011?
Gold rose 0.6% in Indian rupee terms in May 2011, compared with −0.9% in US dollars.
Did gold beat stocks in May 2011?
Yes. Gold was −0.9% for the month, against −1.1% for the S&P 500 with dividends.
Did gold keep up with inflation in May 2011?
US consumer prices (CPI) changed +0.47% in May, so gold's real (inflation-adjusted) change was about −1.3%.
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 2011}, howpublished = {\url{https://goldprice.corgano.com/gold-price-history/2011/may}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-11-01}}