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On this day — February 9, 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.

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 40 of 365 · Q1 2025 · 11.0% through the year

February 2025 gold market: Uptrend extends on inflation and safe-haven demand

Bullish

Inflation and debt worries sustained the strong uptrend.

Gold continued higher in February as elevated inflation concerns, worries about persistent government debt, and currency-debasement fears drew investors toward gold's traditional store-of-value role. Institutional accumulation and safe-haven demand kept the trend firmly intact.

What drove gold in February 2025

  • elevated inflation concerns
  • government-debt and debasement fears
  • safe-haven demand
  • institutional accumulation
Themes#inflation#safe-haven demand#debt and debasement

Key events in February 2025

  1. Feb 24Tariff plans on major trading partners reinforce hedging demand

What happened next

Building momentum carried gold through the historic $3,000 barrier in March.

For gold buyers

February showed gold working as designed — a hedge against inflation, debt and currency risk, all of which were rising at once.

Feb 9 across the years — 20202023

+19.2% over 3 years
20202023
YearFeb 9 closevs prior
Feb 9, 2023$1,879.10+2.81%View
Feb 9, 2022$1,827.80-0.64%View
Feb 9, 2021$1,839.60+16.65%View
Feb 9, 2020$1,577.06View
Each row is the verified XAU/USD spot close for Feb 9 of that year. Click any row to open the full daily archive (with country tables for Feb 9, 2020+).