Gold Prices

Gold prices averaged USD 3,288 per troy ounce in May, up 2.0% from April. On 30 May, the commodity traded at USD 3,285 per troy ounce, down 0.7% from 30 April.

Prices rose on average in May vs April but have receded since their record high on 22 April and were volatile as President Trump’s erratic policy swings sent shockwaves through the market. Prices rose at the outset of the month, but gains were swiftly erased as the U.S. signed a trade deal with the UK and rolled back tariffs on China. In late May, mounting concerns over the U.S. economy plus threats of higher duties on EU imports stoked another price rally.