Gold Price in January 2024
In January 2024, gold fell 1.1%, from $2,071.80 at the end of December to $2,048.40 per troy ounce on January 31, 2024. The highest close was $2,073.40 on January 2, 2024, the lowest $2,006.50 on January 17, 2024, and the average over 21 trading days was $2,032.05. Today's price is 89.3% higher than the January 2024 close.
Gold ended January lower. What usually happens in February after a lower January →
- Gold fell 1.1% in US dollars in January 2024.
- Measured in other currencies, the change ranged from −2.0% in PKR to +3.0% in JPY, because exchange rates moved too.
- It did better than silver (−3.4%), and worse than bitcoin (+0.8%) and US stocks (+1.7%).
- It closed higher on 10 trading days and lower on 11, with an average daily move of 0.52%.
- At the end of the month it was 2.1% below its highest close since 2000.
- Gold/silver ratio: 86.9 → 88.9.
- The biggest reaction to a scheduled US release was to the Fed rate decision on 31 January: +1.9% over two sessions.
Gold price chart, January 2024
US dollars per troy ounce · daily closeGold in other currencies, January 2024
| Currency | Change in the month |
|---|---|
| JPY | +3.0% |
| AUD | +2.3% |
| TRY | +1.7% |
| CHF | +1.0% |
| EUR | +0.9% |
| CAD | +0.2% |
| ZAR | 0.0% |
| INR | −0.2% |
| GBP | −0.8% |
| EGP | −1.1% |
| CNY | −1.3% |
| PKR | −2.0% |
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, January 2024
| Asset | Change (USD) |
|---|---|
| Gold | −1.1% |
| Silver | −3.4% |
| Bitcoin | +0.8% |
| S&P 500 (with dividends) | +1.7% |
| US inflation (CPI, month) | +0.54% |
| Gold/silver ratio | 86.9 → 88.9 |
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 January 2024
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 |
|---|---|---|---|
| Fri 5 Jan | Jobs report (December 2023) | — | 0.0% |
| Thu 11 Jan | CPI inflation (December 2023) | — | −0.4% |
| Wed 31 Jan | Fed rate decision | Rates unchanged (5.25–5.50%) | +1.9% |
Daily Gold Prices, January 2024
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 |
|---|---|---|---|---|---|
| Jan 2Tue | $2,073.40 | +0.08% | $66.66 | ₹55,464 | AED 244.77 |
| Jan 3Wed | $2,042.80 | −1.48% | $65.68 | ₹54,681 | AED 241.15 |
| Jan 4Thu | $2,050.00 | +0.35% | $65.91 | ₹54,914 | AED 242.00 |
| Jan 5Fri | $2,049.80 | −0.01% | $65.90 | ₹54,858 | AED 241.98 |
| Jan 8Mon | $2,033.50 | −0.80% | $65.38 | ₹54,389 | AED 240.06 |
| Jan 9Tue | $2,033.00 | −0.02% | $65.36 | ₹54,284 | AED 240.00 |
| Jan 10Wed | $2,027.80 | −0.26% | $65.20 | ₹54,198 | AED 239.39 |
| Jan 11Thu | $2,019.20 | −0.42% | $64.92 | ₹53,899 | AED 238.38 |
| Jan 12Fri | $2,051.60 | +1.60% | $65.96 | ₹54,797 | AED 242.20 |
| Jan 16Tue | $2,030.20 | −1.04% | $65.27 | ₹54,084 | AED 239.67 |
| Jan 17Wed | $2,006.50 | −1.17% | $64.51 | ₹53,601 | AED 236.88 |
| Jan 18Thu | $2,021.60 | +0.75% | $65.00 | ₹54,062 | AED 238.67 |
| Jan 19Fri | $2,029.30 | +0.38% | $65.24 | ₹54,257 | AED 239.57 |
| Jan 22Mon | $2,022.20 | −0.35% | $65.02 | ₹54,044 | AED 238.73 |
| Jan 23Tue | $2,025.80 | +0.18% | $65.13 | ₹54,121 | AED 239.16 |
| Jan 24Wed | $2,016.00 | −0.48% | $64.82 | ₹53,941 | AED 238.00 |
| Jan 25Thu | $2,017.80 | +0.09% | $64.87 | ₹53,909 | AED 238.22 |
| Jan 26Fri | $2,017.30 | −0.02% | $64.86 | ₹53,927 | AED 238.20 |
| Jan 29Mon | $2,025.40 | +0.40% | $65.12 | ₹54,127 | AED 239.13 |
| Jan 30Tue | $2,031.50 | +0.30% | $65.31 | ₹54,311 | AED 239.83 |
| Jan 31Wed | $2,048.40 | +0.83% | $65.86 | ₹54,734 | AED 241.83 |
How January usually goes for gold
In the 20 years from 2006 to 2025, gold rose in January 14 times out of 20, with an average move of +3.5% and a median of +3.7%. Every January since 1971 →
Gold in January 2024: FAQ
What was the price of gold in January 2024?
Gold traded between $2,006.50 and $2,073.40 per troy ounce (daily closes) in January 2024, averaging $2,032.05. It closed the month at $2,048.40.
How much did gold go down in January 2024?
Gold fell 1.1%, from $2,071.80 to $2,048.40. The biggest daily rise was +1.6% on January 12, 2024 and the biggest fall −1.5% on January 3, 2024.
What was the gold price on January 2, 2024?
Gold closed at $2,073.40 per troy ounce on January 2, 2024, the first trading day of the month. 24K India, ₹ per 10 g: ₹55,464.
Is January usually a good month for gold?
In the 20 years from 2006 to 2025, gold rose in January 14 times out of 20, with an average move of +3.5% and a median of +3.7%. Past seasonal patterns are not a reliable guide to any single year.
How much did gold change in rupees in January 2024?
Gold fell 0.2% in Indian rupee terms in January 2024, compared with −1.1% in US dollars.
Did gold beat stocks in January 2024?
No. Gold was −1.1% for the month, against +1.7% for the S&P 500 with dividends.
How did gold react to the Fed and US data in January 2024?
Of 3 scheduled US releases this month, the biggest move came after the Fed rate decision on 31 January: +1.9%. The full list with each reaction is on this page.
Did gold keep up with inflation in January 2024?
US consumer prices (CPI) changed +0.54% in January, so gold's real (inflation-adjusted) change was about −1.7%.
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{corgano2026goldpriceinjanuary, author = {{Corgano}}, title = {Gold Price in January 2024}, howpublished = {\url{https://goldprice.corgano.com/gold-price-history/2024/january}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-10-31}}