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On this day — October 12, 2024
Saturday — the international gold market is closed. Most retail jewellery markets, especially in Asia and the Middle East, see peak Saturday foot-traffic and physical trade activity.
Day 286 of 366 · Q4 2024 · 78.1% 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 12 across the years — 2020 → 2023
| Year | Oct 12 close | vs prior | |
|---|---|---|---|
| Oct 12, 2023 | $1,874.00 | +12.17% | View |
| Oct 12, 2022 | $1,670.70 | -5.49% | View |
| Oct 12, 2021 | $1,767.80 | -8.19% | View |
| Oct 12, 2020 | $1,925.50 | — | View |