Gold Price in May 1998
Gold price in May 1998: high $299, low $299, average $299, close $299. 1 LBMA fixings, daily breakdown, macro context.
- Updated
- Real-time LBMA & ECN data
- AI-curated from 50+ feeds
Gold in May 1998 traded between $299 and $299 per troy ounce, averaging $299 across 1 LBMA fixings. The month closed at $299, a 0.0% move from the opening $299. Source: LBMA AM/PM benchmark via Swissquote ECN.
$299Key Facts
- Period
- May 1998
- Monthly high
- $299
- Monthly low
- $299
- Monthly average
- $299
- Close
- $299
- Data points
- 1 LBMA fixings
What this means
Gold spent May 1998 in a $0 range — high $299, low $299 — averaging $299 across 1 LBMA fixings. The month-to-month move from open $299 to close $299 was 0.00%, reflecting the macro environment during this specific period.
Gold prices within a month are driven by scheduled macro events (central bank meetings, CPI releases, non-farm payrolls) and unscheduled events (geopolitical shocks, bank failures). Monthly analysis reveals which events were already priced in and which produced genuine surprises.
Goldetect's May 1998 record pairs the LBMA daily benchmark with macro headlines classified in real time by Gemini AI. Use the year overview (1998) for the full-cycle picture, or the central bank cluster to trace the policy decisions that drove each move.
Daily LBMA data. The LBMA publishes AM (10:30 GMT) and PM (15:00 GMT) fixes every London business day. Monthly high = highest PM fix in May 1998; monthly low = lowest PM fix. Monthly average = arithmetic mean of all PM fixes in the month.
Intra-month volatility. Gold's average true range (ATR) is $15–40/oz in normal markets, $50–100+/oz during major macro events. A one-month window in May 1998 typically contains 2–5 significant price moves worth cataloguing.
Context within the year. Monthly data is most useful read against the annual trend. A month where gold fell 3% looks different if the annual trend is +20% (profit-taking) versus −10% (continuation). The annual page for 1998 provides this broader context.
Frequently Asked Questions
What was the gold price in May 1998?
Gold in May 1998 is tracked via daily LBMA AM/PM fixes (XAU/USD per troy ounce). Goldetect aggregates the monthly high, low, and average from the official benchmark series and contextualizes each major move with macro headlines from the same period.What events moved gold in May 1998?
Major monthly drivers include Fed decisions, US CPI/PCE releases, non-farm payrolls, geopolitical events, and central bank purchase announcements. The detail section and related 1998 pages cover the specific catalysts that produced the largest single-day and weekly moves.How does May 1998 compare to other months?
May has a seasonal pattern: stronger in Q1 (Chinese New Year) and Q4 (Diwali, Christmas), weaker in the northern summer. May 1998 can be benchmarked against the same month in prior years to isolate seasonal effects from fundamental price drivers.Where can I find historical gold price data?
The LBMA publishes historical AM and PM benchmark data from 1968. FRED (stlouisfed.org, series GOLDAMGBD228NLBM) covers 1968+. For 1945–1967, the Bretton Woods fixed price of $35/oz applies. Goldetect's historical pages aggregate this data in a user-friendly format.