Gold Price in NGN — May 2025

Across the 31 trading days recorded in May 2025, 24K gold (99.9% pure bullion) in Nigerian Naira opened the month at ₦167,166.67 per gram and closed at ₦167,957.47 per gram, a net rose of ₦790.80 (0.47%) over the month. The average daily closing price for the period was ₦168,900.28 per gram, giving a useful benchmark for anyone auditing purchases or valuations made during this window.

Prices were most volatile around the extremes of the range: the month's high of ₦175,533.25 per gram was recorded on Tuesday, May 6, 2025, while the low of ₦163,847.36 per gram fell on Wednesday, May 14, 2025. That puts the intra-month trading range at ₦11,685.89 per gram, or 7.13% of the low, which is a reasonable proxy for how much short-term volatility affected the market this month.

Purity matters as much as timing when valuing gold. Using May 2025's closing rate, 22K gold (91.67% pure — the standard for jewelry worldwide) closed at approximately ₦153,966.62 per gram, 21K (87.5% pure, common across the Gulf) at ₦146,962.79 per gram, and 18K (75% pure, favored for its durability in fine jewelry) at ₦125,968.10 per gram. In trade units beyond the gram, the closing 24K rate converts to roughly ₦1,959,022.37 per tola (the standard unit across South Asia and the Middle East), ₦5,224,065.25 per troy ounce (the international spot-market unit), and ₦167,957,473 per kilogram.

Against the previous month's close of ₦168,721.45 per gram, gold lost 0.45% by the end of May 2025. Tracking this kind of month-over-month movement is one of the more reliable ways to judge whether a longer-term trend is forming, rather than reacting to a single day's price swing.

This data reflects raw international spot-market closing rates and does not include local retail premiums, making charges, or import duties that jewelers and dealers typically add. It is best used for portfolio audits, insurance valuations, scrap-gold ROI calculations, and understanding broad price trends — for an actual buy or sell quote, cross-reference against a local dealer's rate for the same date.