Distance from the record
This close sat 4.94% below the highest gold close recorded up to that date, set on 2011-05-02.
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This page is a historical record of the gold price in 17 May 2011, not the current price.See today's gold price (11 September 2026)
Lowest closing price since 14 April 2011
Gold closed at $1,479.80 per troy ounce on 17 May 2011, down $10.60 (0.71%) from the previous close of $1,490.40.
Notable session: lowest close of the month.
This close extended a run of 3 consecutive sessions of losses. Runs are more informative than any one day inside them: they show direction holding rather than a single session's noise.
This close sat 4.94% below the highest gold close recorded up to that date, set on 2011-05-02.
Metal value only, before dealer margins and fabrication.
Twelve months earlier gold traded around $1,227.70, making this a +20.53% move year on year.
Figures in this section are shown in USD, independent of the currency selected above.
Gold closed at $1,479.80 per troy ounce on 17 May 2011. That is $10.60 lower than the previous close of $1,490.40, a move of -0.71%.
The gold price fell on 17 May 2011, losing $10.60 (0.71%) against the previous session's close of $1,490.40.
At $1,479.80 per troy ounce, one gram of pure gold was worth about $47.58 on 17 May 2011. A troy ounce is 31.1034768 grams.
Scrap value follows purity, so on 17 May 2011 18k gold was worth about $35.68 per gram and 14k about $27.75 per gram, against $47.58 for pure 24k. These are melt values before any dealer margin.
The gold-to-silver ratio closed at about 44.2 on 17 May 2011, meaning one ounce of gold was worth roughly 44.2 ounces of silver.
A week before 17 May 2011, gold was around $1,516.60 per troy ounce, so the close of $1,479.80 is a loss of 2.4% over the week.
A year before 17 May 2011, gold was around $1,227.70 per troy ounce. The close of $1,479.80 therefore represents a rise of 20.5% over twelve months.
This close was session 3 of a consecutive run of losses. A run is counted by closes, so an intraday reversal that still closed in the same direction does not break it.
It closed 4.94% below the highest close on record up to that date, which was set on 2011-05-02.