Goldify Pro
Live Gold Rates & Tools
On this day — January 28, 2024
Chinese New Year: Chinese gold demand surges in the lead-up to Lunar New Year as families exchange gold pendants, rings and bars. Year-on-year, China's January–February gold imports run 30–50 percent above other months.
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 28 of 366 · Q1 2024 · 7.7% 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.