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On this day — January 5, 2024
Friday — typically a higher-volatility close to the week. US monthly non-farm payrolls publish on the first Friday of each month at 8:30 AM ET, the single most-watched economic data release for gold.
Day 5 of 366 · Q1 2024 · 1.4% through the year
January 2024 gold market: Consolidation above $2,000
Range-boundA firm hold above $2,000 awaiting Fed cuts.
Gold opened 2024 holding comfortably above $2,000 near $2,040, consolidating the late-2023 breakout. Markets debated how soon the Federal Reserve would begin cutting rates, keeping prices range-bound but firm.
What drove gold in January 2024
- Fed rate-cut timing debate
- resilient central-bank demand
- Middle East tensions
- firm physical demand in Asia
Key events in January 2024
- Jan 31Fed holds rates; signals patience on cuts
What happened next
The quiet base broke decisively in March, when gold launched to new all-time highs.
For gold buyers
January's calm above $2,000 was the launchpad for one of gold's strongest years on record.
Jan 5 across the years — 2020 → 2023
| Year | Jan 5 close | vs prior | |
|---|---|---|---|
| Jan 5, 2023 | $1,834.00 | -5.48% | View |
| Jan 5, 2021 | $1,940.40 | +22.06% | View |
| Jan 5, 2020 | $1,589.74 | — | View |