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On this day — January 16, 2024
Tuesday — a normal trading day. Tuesday is also when the CFTC publishes Commitments of Traders data for the prior week, often producing intraday movement.
Day 16 of 366 · Q1 2024 · 4.4% 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
Themes#Fed policy#central-bank demand#consolidation
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 16 across the years — 2021 → 2023
20212023
| Year | Jan 16 close | vs prior | |
|---|---|---|---|
| Jan 16, 2023 | $1,917.00 | +4.24% | View |
| Jan 16, 2021 | $1,839.00 | — | View |
Each row is the verified XAU/USD spot close for Jan 16 of that year. Click any row to open the full daily archive (with country tables for Jan 16, 2021+).