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On this day — December 8, 2024
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 343 of 366 · Q4 2024 · 93.7% through the year
December 2024 gold market: Consolidation caps a historic year
Range-boundA year-end pause after a 25%+ annual gain.
Gold consolidated near $2,620 into year-end as the Fed delivered another cut but guided to a slower 2025 pace. Even after the late-year pause, gold finished 2024 up roughly 25–27% — one of its best annual gains of the century.
What drove gold in December 2024
- Fed cuts but turns more cautious for 2025
- firm dollar
- year-end profit-taking
- record annual central-bank demand
Key events in December 2024
- Dec 18Fed cuts but signals fewer 2025 cuts; gold steadies
What happened next
Gold entered 2025 near record highs, with central-bank demand still the dominant structural driver.
For gold buyers
Closing 2024 up around 25%+ confirmed gold's best year in over a decade — a payoff for buyers who trusted the central-bank and rate-cut story.
Dec 8 across the years — 2020 → 2023
| Year | Dec 8 close | vs prior | |
|---|---|---|---|
| Dec 8, 2023 | $2,008.10 | +12.57% | View |
| Dec 8, 2021 | $1,783.80 | -4.52% | View |
| Dec 8, 2020 | $1,868.20 | — | View |