Distance from the record
This close sat 10.74% 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 31 May 2006, not the current price.See today's gold price (11 September 2026)
Gold closed at $642.50 per troy ounce on 31 May 2006, down $11.40 (1.74%) from the previous close of $653.90.
Gold moved the opposite way to the session before it. Single-day reversals are common and usually mean little on their own — what matters is whether the next few sessions follow.
This close sat 10.74% 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 $416.30, making this a +54.34% move year on year.
Figures in this section are shown in USD, independent of the currency selected above.
Gold closed at $642.50 per troy ounce on 31 May 2006. That is $11.40 lower than the previous close of $653.90, a move of -1.74%.
The gold price fell on 31 May 2006, losing $11.40 (1.74%) against the previous session's close of $653.90.
At $642.50 per troy ounce, one gram of pure gold was worth about $20.66 on 31 May 2006. A troy ounce is 31.1034768 grams.
Scrap value follows purity, so on 31 May 2006 18k gold was worth about $15.49 per gram and 14k about $12.05 per gram, against $20.66 for pure 24k. These are melt values before any dealer margin.
The gold-to-silver ratio closed at about 51.8 on 31 May 2006, meaning one ounce of gold was worth roughly 51.8 ounces of silver.
A year before 31 May 2006, gold was around $416.30 per troy ounce. The close of $642.50 therefore represents a rise of 54.3% over twelve months.
It closed 10.74% below the highest close on record up to that date, which was set on 2006-05-11.