Gold in May: Every May Since 1971
Gold has risen in 29 of 56 Mays since 1971 (52%, against 55% for all months), with an average change of +1.0% and a median of +0.1%. Its best May was 1973 (+27.1%) and its worst 1982 (−10.0%). May ranks 6 of 12 by average change.
Gold in every May, 1971–2026
% change in the monthWhat happens in June after May
How often June rose after gold ended May higher or lower, compared with all months (55% rose).
After a higher May
InconclusiveAfter gold ends May higher, June has risen 52% of the time since 1971 (15 of 29), against 55% for all months, with an average change of +0.6% and a median of +0.2%: no meaningful pattern.
After a lower May
InconclusiveAfter gold ends May lower, June has risen 46% of the time since 1971 (12 of 26), against 55% for all months, with an average change of −1.2% and a median of −1.1%: a difference, but too few cases to rule out chance.
"Momentum" or "rebound" only when the share differs from all months by at least 5 percentage points, with at least 20 cases, and by more than chance would explain (95% confidence); otherwise "inconclusive". With one month a year, most single-month differences are within chance. The same figures for every month together: gold seasonality.
Gold in May, Year by Year
Month-end close and the change in May, with June next to it.
| Year | Close, end of May | May | June after |
|---|---|---|---|
| 2026 | $4,593 | −0.8% | −12.1% |
| 2025 | $3,289 | −0.9% | +0.6% |
| 2024 | $2,323 | +0.9% | +0.7% |
| 2023 | $1,964 | −1.8% | −1.8% |
| 2022 | $1,843 | −3.6% | −1.9% |
| 2021 | $1,903 | +7.6% | −6.9% |
| 2020 | $1,752 | +4.0% | +2.8% |
| 2019 | $1,306 | +1.8% | +8.0% |
| 2018 | $1,300 | −1.2% | −3.8% |
| 2017 | $1,269 | +0.1% | −2.2% |
| 2016 | $1,215 | −5.9% | +8.7% |
| 2015 | $1,190 | +0.6% | −1.5% |
| 2014 | $1,246 | −3.9% | +6.1% |
| 2013 | $1,395 | −5.1% | −14.5% |
| 2012 | $1,558 | −5.6% | +2.6% |
| 2011 | $1,537 | +0.1% | −2.0% |
| 2010 | $1,208 | +2.4% | +3.0% |
| 2009 | $976 | +10.4% | −4.2% |
| 2008 | $886 | +1.7% | +5.0% |
| 2007 | $659 | −2.6% | −1.3% |
| 2006 | $653 | +1.4% | −6.0% |
| 2005 | $414 | −4.9% | +5.5% |
| 2004 | $393 | +1.2% | +0.6% |
| 2003 | $361 | +7.3% | −4.3% |
| 2002 | $327 | +6.0% | −2.5% |
| 2001 | $268 | +1.7% | +1.2% |
| 2000 | $272 | −1.0% | +5.8% |
| 1999 | $269 | −6.3% | −2.8% |
| 1998 | $294 | −5.5% | +0.9% |
| 1997 | $346 | +1.6% | −3.2% |
| 1996 | $391 | −0.2% | −2.2% |
| 1995 | $384 | −1.4% | +0.7% |
| 1994 | $388 | +3.0% | +0.2% |
| 1993 | $377 | +6.5% | +0.3% |
| 1992 | $338 | +0.3% | +1.7% |
| 1991 | $360 | +0.7% | +2.2% |
| 1990 | $363 | −1.3% | −3.0% |
| 1989 | $362 | −4.2% | +3.1% |
| 1988 | $456 | +1.4% | −4.2% |
| 1987 | $451 | −0.5% | −0.8% |
| 1986 | $343 | −0.7% | +1.0% |
| 1985 | $314 | −2.3% | +1.2% |
| 1984 | $384 | +2.2% | −2.9% |
| 1983 | $438 | +1.9% | −4.9% |
| 1982 | $325 | −10.0% | −2.4% |
| 1981 | $479 | −0.7% | −11.1% |
| 1980 | $536 | +3.4% | +22.0% |
| 1979 | $275 | +11.9% | +1.1% |
| 1978 | $184 | +7.8% | −0.6% |
| 1977 | $143 | −2.9% | 0.0% |
| 1976 | $126 | −2.3% | −1.4% |
| 1975 | $167 | 0.0% | −0.4% |
| 1974 | $157 | −7.4% | −8.0% |
| 1973 | $115 | +27.1% | +7.4% |
| 1972 | $59.45 | +19.9% | +8.7% |
| 1971 | $40.84 | +2.9% | −1.8% |
In the calendar in May
- Akshaya Tritiya falls in April or May.
- Mother's Day in the US and Canada.
Events that fall in the month; they do not explain any single year's move.
Gold by Month
Gold in May: FAQ
Is May a good month for gold?
Gold has risen in 52% of Mays since 1971 (29 of 56), against 55% for all months, with an average change of +1.0%. May ranks 6 of 12 months by average change. In the last 10 years it rose 5 times. Seasonal patterns are not a reliable guide to any single year.
What was gold's best May?
1973, when gold rose 27.1%. The worst was 1982 (−10.0%).
What happens to gold in June after a higher May?
After gold ends May higher, June has risen 52% of the time since 1971 (15 of 29), against 55% for all months, with an average change of +0.6% and a median of +0.2%: no meaningful pattern.
What happens to gold in June after a lower May?
After gold ends May lower, June has risen 46% of the time since 1971 (12 of 26), against 55% for all months, with an average change of −1.2% and a median of −1.1%: a difference, but too few cases to rule out chance.
History, not advice: past monthly patterns do not predict any single month. Data to 26 October 2026.
Cite this page
For essays, articles and research. Prices on this page update daily, so the citations include today's date as the date you accessed it.
@misc{corgano2026goldinmayevery, author = {{Corgano}}, title = {Gold in May: every May since 1971}, howpublished = {\url{https://goldprice.corgano.com/gold-in-may}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-10-27}}