G

Goldify Pro

Live Gold Rates & Tools

On this day — October 25, 2024

Diwali: The Hindu festival of lights is the largest annual gold-buying event in India. Dhanteras (two days before Diwali) is specifically dedicated to buying gold and silver. India sees billion-dollar surges in jewellery sales over the five-day Diwali season.

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 299 of 366 · Q4 2024 · 81.7% through the year

October 2024 gold market: Records above $2,700 into the US election

Bullish

A 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
Themes#US election#geopolitics#all-time high

Key events in October 2024

  1. 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 25 across the years — 20202022

-13.1% over 2 years
20202022
YearOct 25 closevs prior
Oct 25, 2022$1,659.30-8.09%View
Oct 25, 2021$1,805.30-5.41%View
Oct 25, 2020$1,908.59View
Each row is the verified XAU/USD spot close for Oct 25 of that year. Click any row to open the full daily archive (with country tables for Oct 25, 2020+).