Distance from the record
This close sat 34.93% below the highest gold close recorded up to that date, set on 2011-08-22.
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This page is a historical record of the gold price in 24 May 2016, not the current price.See today's gold price (11 September 2026)
Lowest closing price since 22 April 2016
Gold closed at $1,228.90 per troy ounce on 24 May 2016, down $22.20 (1.77%) from the previous close of $1,251.10.
This close extended a run of 5 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 34.93% below the highest gold close recorded up to that date, set on 2011-08-22.
Metal value only, before dealer margins and fabrication.
Twelve months earlier gold traded around $1,204.30, making this a +2.04% move year on year.
Figures in this section are shown in USD, independent of the currency selected above.
Gold closed at $1,228.90 per troy ounce on 24 May 2016. That is $22.20 lower than the previous close of $1,251.10, a move of -1.77%.
The gold price fell on 24 May 2016, losing $22.20 (1.77%) against the previous session's close of $1,251.10.
At $1,228.90 per troy ounce, one gram of pure gold was worth about $39.51 on 24 May 2016. A troy ounce is 31.1034768 grams.
Scrap value follows purity, so on 24 May 2016 18k gold was worth about $29.63 per gram and 14k about $23.05 per gram, against $39.51 for pure 24k. These are melt values before any dealer margin.
The gold-to-silver ratio closed at about 75.7 on 24 May 2016, meaning one ounce of gold was worth roughly 75.7 ounces of silver.
A week before 24 May 2016, gold was around $1,276.20 per troy ounce, so the close of $1,228.90 is a loss of 3.7% over the week.
This close was session 5 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 34.93% below the highest close on record up to that date, which was set on 2011-08-22.