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On this day — December 4, 2023
Gold spiked to a record intraday high around $2,135 before settling back, as markets increasingly priced in 2024 Fed rate cuts and record central-bank buying.
Monday — typically a high-volume trading day as markets digest weekend news. Asian gold imports often see Monday surges in major demand countries.
Day 338 of 365 · Q4 2023 · 92.6% through the year
December 2023 gold market: Brief record high caps a strong year
BullishA record intraday high capped a 13% year.
Gold spiked to a record intraday high around $2,150 in early December before settling back to close 2023 near $2,060 — up roughly 13% on the year. Mounting expectations of 2024 Fed rate cuts and record central-bank buying underpinned the strength.
What drove gold in December 2023
- 2024 rate-cut expectations building
- record central-bank gold demand
- softening dollar and yields
- momentum into year-end
Key events in December 2023
- Dec 4Gold prints a record intraday high near $2,150
What happened next
The record attempt set the stage for 2024's decisive breakout above the old ceiling.
For gold buyers
2023 closed up about 13% with a record intraday high — the springboard for 2024's historic breakout.
Related months to read
Dec 4 across the years — 2021 → 2022
| Year | Dec 4 close | vs prior | |
|---|---|---|---|
| Dec 4, 2022 | $1,810.01 | +2.40% | View |
| Dec 4, 2021 | $1,767.60 | — | View |