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On this day — October 11, 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 285 of 366 · Q4 2024 · 77.9% through the year
October 2024 gold market: Records above $2,700 into the US election
BullishA near-vertical run to records above $2,700.
Gold climbed to new records above $2,700 in October on a mix of US election uncertainty, Middle East conflict, easing expectations, and unrelenting central-bank demand. It was one of gold's strongest stretches of an already historic year.
What drove gold in October 2024
- US election uncertainty
- Middle East conflict
- ongoing Fed easing expectations
- record-pace central-bank buying
Key events in October 2024
- Oct 30Gold sets records above $2,700/oz
What happened next
The run paused sharply after the November US election result lifted the dollar.
For gold buyers
October's surge to $2,700 capped a near-vertical run; prudent buyers began watching for the inevitable consolidation.
Oct 11 across the years — 2020 → 2023
| Year | Oct 11 close | vs prior | |
|---|---|---|---|
| Oct 11, 2023 | $1,871.25 | +12.41% | View |
| Oct 11, 2022 | $1,664.70 | -5.29% | View |
| Oct 11, 2021 | $1,757.70 | -9.08% | View |
| Oct 11, 2020 | $1,933.29 | — | View |