Goldify Pro
Live Gold Rates & Tools
On this day — May 2, 2021
Akshaya Tritiya: One of the most important gold-buying days in the Hindu calendar — Indian households often buy gold for the day, treating it as auspicious for wealth and prosperity. India's monthly gold imports typically surge 20–40 percent in the month containing Akshaya Tritiya.
Sunday — the international gold market is closed. Spot quotes carry forward from the prior Friday close. Retail rates in jewellery markets may differ slightly based on local Sunday hours.
Day 122 of 365 · Q2 2021 · 33.4% through the year
May 2021 gold market: Inflation fears drive gold to $1,900
BullishHot inflation data revived gold's inflation-hedge appeal.
Gold rallied strongly to around $1,900 in May after a much hotter-than-expected April US inflation report stoked fears that price pressures would prove persistent. A weaker dollar amplified the move.
What drove gold in May 2021
- hot April US CPI (released mid-May)
- weaker US dollar
- inflation-hedge demand
- Fed insisting inflation was 'transitory'
Key events in May 2021
- May 12Hot US CPI print stokes inflation fears; gold rallies
What happened next
The rally stalled abruptly in June when the Fed turned hawkish.
For gold buyers
May was gold's best stretch of 2021 — proof the metal still rallied hard on inflation, until the Fed pushed back.