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On this day — January 30, 2025
Chinese New Year: Chinese gold demand surges in the lead-up to Lunar New Year as families exchange gold pendants, rings and bars. Year-on-year, China's January–February gold imports run 30–50 percent above other months.
Thursday — a normal trading day. Weekly US initial jobless claims publish at 8:30 AM ET on Thursdays, occasionally producing intraday gold movement.
Day 30 of 365 · Q1 2025 · 8.2% through the year
January 2025 gold market: Record run resumes on rate-cut hopes
BullishRate-cut expectations and central-bank demand reignited the record run.
Gold opened 2025 strongly as markets positioned for future Fed rate cuts and a new US administration brought immediate policy and tariff uncertainty. Falling rate expectations pressure bond yields and the dollar while making non-yielding gold more attractive — and continued record central-bank buying reinforced the bid from day one.
What drove gold in January 2025
- Fed rate-cut expectations
- record central-bank buying
- geopolitical and policy uncertainty
- weaker-dollar positioning
Key events in January 2025
- Jan 20Trump inaugurated; tariff threats lift safe-haven and hedging demand
What happened next
Persistent inflation worries and accumulating institutional demand kept the uptrend intact into February.
For gold buyers
January set the tone for a historic year — with rate cuts expected and central banks buying relentlessly, gold's path of least resistance was higher.
Jan 30 across the years — 2020 → 2023
| Year | Jan 30 close | vs prior | |
|---|---|---|---|
| Jan 30, 2023 | $1,924.10 | +21.91% | View |
| Jan 30, 2020 | $1,578.30 | — | View |