Distance from the record
This close sat 11.50% below the highest gold close recorded up to that date, set on 2006-05-11.
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This page is a historical record of the gold price in 24 May 2006, not the current price.See today's gold price (11 September 2026)
Lowest closing price since 27 April 2006
Gold closed at $637.00 per troy ounce on 24 May 2006, down $36.00 (5.35%) from the previous close of $673.00.
Notable session: lowest close of the month; moved more than 3% in a session.
Gold lost 5.35% in one session, far more than a normal day's range. Falls this size rarely happen in isolation — the days on either side give the move its context.
This close sat 11.50% below the highest gold close recorded up to that date, set on 2006-05-11.
Metal value only, before dealer margins and fabrication.
Twelve months earlier gold traded around $417.50, making this a +52.57% move year on year.
Figures in this section are shown in USD, independent of the currency selected above.
Gold closed at $637.00 per troy ounce on 24 May 2006. That is $36.00 lower than the previous close of $673.00, a move of -5.35%.
The gold price fell on 24 May 2006, losing $36.00 (5.35%) against the previous session's close of $673.00.
At $637.00 per troy ounce, one gram of pure gold was worth about $20.48 on 24 May 2006. A troy ounce is 31.1034768 grams.
Scrap value follows purity, so on 24 May 2006 18k gold was worth about $15.36 per gram and 14k about $11.95 per gram, against $20.48 for pure 24k. These are melt values before any dealer margin.
The gold-to-silver ratio closed at about 51.2 on 24 May 2006, meaning one ounce of gold was worth roughly 51.2 ounces of silver.
A week before 24 May 2006, gold was around $690.50 per troy ounce, so the close of $637.00 is a loss of 7.7% over the week.
A year before 24 May 2006, gold was around $417.50 per troy ounce. The close of $637.00 therefore represents a rise of 52.6% over twelve months.
It closed 11.50% below the highest close on record up to that date, which was set on 2006-05-11.