Gold in December: Every December Since 1971
Gold has risen in 31 of 55 Decembers since 1971 (56%, against 55% for all months), with an average change of +1.1% and a median of +0.4%. Its best December was 1979 (+23.2%) and its worst 2011 (−12.3%). December ranks 4 of 12 by average change.
Gold in every December, 1971–2025
% change in the monthWhat happens in January after December
How often January rose after gold ended December higher or lower, compared with all months (55% rose).
After a higher December
InconclusiveAfter gold ends December higher, January has risen 61% of the time since 1971 (19 of 31), against 55% for all months, with an average change of +3.4% and a median of +3.2%: a difference, but too few cases to rule out chance.
After a lower December
InconclusiveAfter gold ends December lower, January has risen 50% of the time since 1971 (12 of 24), against 55% for all months, with an average change of +0.5% and a median of −0.1%: no meaningful pattern.
"Momentum" or "rebound" only when the share differs from all months by at least 5 percentage points, with at least 20 cases, and by more than chance would explain (95% confidence); otherwise "inconclusive". With one month a year, most single-month differences are within chance. The same figures for every month together: gold seasonality.
Gold in December, Year by Year
Month-end close and the change in December, with January next to it.
| Year | Close, end of December | December | January after |
|---|---|---|---|
| 2025 | $4,341 | +2.0% | +9.3% |
| 2024 | $2,641 | −0.6% | +6.5% |
| 2023 | $2,072 | +1.7% | −1.1% |
| 2022 | $1,826 | +4.6% | +5.7% |
| 2021 | $1,829 | +3.1% | −1.8% |
| 2020 | $1,895 | +6.7% | −2.5% |
| 2019 | $1,520 | +3.7% | +4.2% |
| 2018 | $1,278 | +4.8% | +3.2% |
| 2017 | $1,306 | +2.6% | +2.5% |
| 2016 | $1,151 | −1.9% | +5.2% |
| 2015 | $1,061 | −0.5% | +5.2% |
| 2014 | $1,184 | +0.7% | +8.0% |
| 2013 | $1,202 | −3.9% | +3.1% |
| 2012 | $1,658 | −4.0% | +0.4% |
| 2011 | $1,531 | −12.3% | +13.9% |
| 2010 | $1,406 | +1.6% | −5.6% |
| 2009 | $1,088 | −7.5% | −0.8% |
| 2008 | $870 | +6.8% | +5.7% |
| 2007 | $834 | +6.4% | +10.7% |
| 2006 | $632 | −2.3% | +2.9% |
| 2005 | $513 | +3.5% | +10.9% |
| 2004 | $436 | −3.9% | −3.1% |
| 2003 | $416 | +4.5% | −4.0% |
| 2002 | $347 | +8.8% | +5.8% |
| 2001 | $277 | +0.4% | +2.1% |
| 2000 | $274 | +2.0% | −3.6% |
| 1999 | $290 | −0.4% | −2.4% |
| 1998 | $288 | −2.3% | −0.8% |
| 1997 | $290 | −2.2% | +5.0% |
| 1996 | $369 | −0.6% | −6.4% |
| 1995 | $387 | −0.2% | +4.8% |
| 1994 | $383 | 0.0% | −2.2% |
| 1993 | $392 | +5.6% | −3.5% |
| 1992 | $333 | −0.4% | −0.7% |
| 1991 | $353 | −3.6% | +0.3% |
| 1990 | $386 | +0.4% | −5.2% |
| 1989 | $399 | −2.3% | +4.1% |
| 1988 | $410 | −2.9% | −4.0% |
| 1987 | $484 | −1.7% | −5.4% |
| 1986 | $389 | −0.2% | +3.0% |
| 1985 | $327 | +0.5% | +7.3% |
| 1984 | $308 | −6.3% | −0.5% |
| 1983 | $382 | −5.6% | −2.3% |
| 1982 | $457 | +4.8% | +9.3% |
| 1981 | $398 | −4.1% | −2.6% |
| 1980 | $590 | −4.8% | −14.1% |
| 1979 | $512 | +23.2% | +27.5% |
| 1978 | $226 | +16.9% | +3.4% |
| 1977 | $165 | +3.1% | +6.5% |
| 1976 | $135 | +3.3% | −1.6% |
| 1975 | $140 | +1.5% | −8.6% |
| 1974 | $187 | +1.4% | −5.7% |
| 1973 | $112 | +11.1% | +18.0% |
| 1972 | $64.90 | +2.0% | +1.7% |
| 1971 | $43.62 | 0.0% | +8.1% |
In the calendar in December
- Christmas and year-end, when some funds rebalance their portfolios.
Events that fall in the month; they do not explain any single year's move.
Gold by Month
Gold in December: FAQ
Is December a good month for gold?
Gold has risen in 56% of Decembers since 1971 (31 of 55), against 55% for all months, with an average change of +1.1%. December ranks 4 of 12 months by average change. In the last 10 years it rose 8 times. Seasonal patterns are not a reliable guide to any single year.
What was gold's best December?
1979, when gold rose 23.2%. The worst was 2011 (−12.3%).
What happens to gold in January after a higher December?
After gold ends December higher, January has risen 61% of the time since 1971 (19 of 31), against 55% for all months, with an average change of +3.4% and a median of +3.2%: a difference, but too few cases to rule out chance.
What happens to gold in January after a lower December?
After gold ends December lower, January has risen 50% of the time since 1971 (12 of 24), against 55% for all months, with an average change of +0.5% and a median of −0.1%: no meaningful pattern.
History, not advice: past monthly patterns do not predict any single month. Data to 26 October 2026.
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{corgano2026goldindecemberevery, author = {{Corgano}}, title = {Gold in December: every December since 1971}, howpublished = {\url{https://goldprice.corgano.com/gold-in-december}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-10-27}}