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On this day — February 22, 2024
Thursday — a normal trading day. Weekly US initial jobless claims publish at 8:30 AM ET on Thursdays, occasionally producing intraday gold movement.
Day 53 of 366 · Q1 2024 · 14.5% through the year
February 2024 gold market: Consolidation as hot data delays cuts
Range-boundA tight range as hot inflation delayed rate-cut bets.
Gold held in a tight range around $2,030 in February 2024, dipping toward $1,990 after a hotter-than-expected US inflation report pushed back expectations for Fed rate cuts. Steady central-bank and Asian demand kept the pullbacks shallow.
What drove gold in February 2024
- hotter US inflation print
- rate-cut expectations pushed back
- steady central-bank demand
- firm dollar
Key events in February 2024
- Feb 13Hot US CPI dips gold toward $1,990 before it recovers
What happened next
The coiled range resolved explosively in March with a breakout to record highs.
For gold buyers
February's quiet consolidation was the calm before March's historic breakout — accumulation paid off.
Feb 22 across the years — 2020 → 2023
| Year | Feb 22 close | vs prior | |
|---|---|---|---|
| Feb 22, 2023 | $1,835.80 | -3.38% | View |
| Feb 22, 2022 | $1,900.10 | +5.12% | View |
| Feb 22, 2021 | $1,807.50 | +9.99% | View |
| Feb 22, 2020 | $1,643.30 | — | View |