Gold Price in February 2023
In February 2023, gold fell 4.8%, from $1,929.50 at the end of January to $1,836.70 per troy ounce on February 28, 2023. The highest close was $1,942.80 on February 1, 2023, the lowest $1,817.10 on February 24, 2023, and the average over 19 trading days was $1,864.42. Today's price is 111.1% higher than the February 2023 close.
Gold ended February lower. What usually happens in March after a lower February →
- Gold fell 4.8% in US dollars in February 2023, leaving it up 0.6% for the year to date.
- Measured in other currencies, the change ranged from −8.2% in PKR to +0.7% in ZAR, because exchange rates moved too.
- It did better than silver (−11.7%), and worse than bitcoin (0.0%) and US stocks (−2.4%).
- It closed higher on 8 trading days and lower on 11, with an average daily move of 0.57%.
- At the end of the month it was 11.2% below its highest close since 2000.
- Gold/silver ratio: 81.2 → 87.6.
- The biggest reaction to a scheduled US release was to the Jobs report (January 2023) on 3 February: −2.8% that day.
Gold price chart, February 2023
US dollars per troy ounce · daily closeGold in other currencies, February 2023
| Currency | Change in the month |
|---|---|
| ZAR | +0.7% |
| AUD | −0.4% |
| JPY | −0.6% |
| CNY | −2.0% |
| GBP | −2.5% |
| EUR | −2.7% |
| EGP | −3.1% |
| CAD | −3.5% |
| INR | −3.6% |
| CHF | −3.7% |
| TRY | −4.4% |
| PKR | −8.2% |
Price in each currency at each day's exchange rate, previous month-end to this month-end. A weaker currency makes gold rise more in local terms.
Gold vs other assets, February 2023
| Asset | Change (USD) |
|---|---|
| Gold | −4.8% |
| Silver | −11.7% |
| Bitcoin | 0.0% |
| S&P 500 (with dividends) | −2.4% |
| US inflation (CPI, month) | +0.56% |
| Gold, year to date (end of February) | +0.6% |
| Gold/silver ratio | 81.2 → 87.6 |
Month-end to month-end. US CPI is the official monthly index (not seasonally adjusted), published the following month.
The Fed and US Data in February 2023
Scheduled US releases this month and how gold moved. For Fed decisions the move covers two sessions, because the statement comes after the gold futures settle.
| Date | Release | Result | Gold |
|---|---|---|---|
| Wed 1 Feb | Fed rate decision | Raised 25 bp (4.50–4.75%) | +0.1% |
| Fri 3 Feb | Jobs report (January 2023) | — | −2.8% |
| Tue 14 Feb | CPI inflation (January 2023) | — | +0.1% |
Daily Gold Prices, February 2023
Closing price for every trading day, with the same price in INR and AED at that day's exchange rate.
| Date | Close (USD per oz) | Change | USD per gram | 24K India, ₹ per 10 g | 24K UAE, AED per gram |
|---|---|---|---|---|---|
| Feb 1Wed | $1,942.80 | +0.69% | $62.46 | ₹51,075 | AED 229.37 |
| Feb 2Thu | $1,930.80 | −0.62% | $62.08 | ₹50,723 | AED 227.95 |
| Feb 3Fri | $1,876.60 | −2.81% | $60.33 | ₹49,502 | AED 221.55 |
| Feb 6Mon | $1,879.50 | +0.15% | $60.43 | ₹49,687 | AED 221.93 |
| Feb 7Tue | $1,884.80 | +0.28% | $60.60 | ₹50,148 | AED 222.52 |
| Feb 8Wed | $1,890.70 | +0.31% | $60.79 | ₹50,297 | AED 223.22 |
| Feb 9Thu | $1,878.50 | −0.65% | $60.40 | ₹49,922 | AED 221.83 |
| Feb 10Fri | $1,874.50 | −0.21% | $60.27 | ₹49,740 | AED 221.30 |
| Feb 13Mon | $1,863.50 | −0.59% | $59.91 | ₹49,436 | AED 220.04 |
| Feb 14Tue | $1,865.40 | +0.10% | $59.97 | ₹49,537 | AED 220.23 |
| Feb 15Wed | $1,845.30 | −1.08% | $59.33 | ₹49,164 | AED 217.90 |
| Feb 16Thu | $1,851.80 | +0.35% | $59.54 | ₹49,259 | AED 218.62 |
| Feb 17Fri | $1,850.20 | −0.09% | $59.49 | ₹49,192 | AED 218.48 |
| Feb 21Tue | $1,842.50 | −0.42% | $59.24 | ₹48,988 | AED 217.53 |
| Feb 22Wed | $1,841.50 | −0.05% | $59.21 | ₹49,058 | AED 217.41 |
| Feb 23Thu | $1,826.80 | −0.80% | $58.73 | ₹48,652 | AED 215.67 |
| Feb 24Fri | $1,817.10 | −0.53% | $58.42 | ₹48,266 | AED 214.53 |
| Feb 27Mon | $1,824.90 | +0.43% | $58.67 | ₹48,650 | AED 215.47 |
| Feb 28Tue | $1,836.70 | +0.65% | $59.05 | ₹48,807 | AED 216.84 |
How February usually goes for gold
In the 20 years from 2006 to 2025, gold rose in February 11 times out of 20, with an average move of +0.9% and a median of +0.8%. Every February since 1971 →
Gold in February 2023: FAQ
What was the price of gold in February 2023?
Gold traded between $1,817.10 and $1,942.80 per troy ounce (daily closes) in February 2023, averaging $1,864.42. It closed the month at $1,836.70.
How much did gold go down in February 2023?
Gold fell 4.8%, from $1,929.50 to $1,836.70. The biggest daily rise was +0.7% on February 1, 2023 and the biggest fall −2.8% on February 3, 2023.
What was the gold price on February 1, 2023?
Gold closed at $1,942.80 per troy ounce on February 1, 2023, the first trading day of the month. 24K India, ₹ per 10 g: ₹51,075.
Is February usually a good month for gold?
In the 20 years from 2006 to 2025, gold rose in February 11 times out of 20, with an average move of +0.9% and a median of +0.8%. Past seasonal patterns are not a reliable guide to any single year.
How much did gold change in rupees in February 2023?
Gold fell 3.6% in Indian rupee terms in February 2023, compared with −4.8% in US dollars.
Did gold beat stocks in February 2023?
No. Gold was −4.8% for the month, against −2.4% for the S&P 500 with dividends.
How did gold react to the Fed and US data in February 2023?
Of 3 scheduled US releases this month, the biggest move came after the Jobs report (January 2023) on 3 February: −2.8%. The full list with each reaction is on this page.
Did gold keep up with inflation in February 2023?
US consumer prices (CPI) changed +0.56% in February, so gold's real (inflation-adjusted) change was about −5.3%.
Cite this page
For essays, articles and research. Prices on this page update daily, so the citations include today's date as the date you accessed it.
@misc{corgano2026goldpriceinfebruary, author = {{Corgano}}, title = {Gold Price in February 2023}, howpublished = {\url{https://goldprice.corgano.com/gold-price-history/2023/february}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-11-01}}