Gold in January: Every January Since 1971
Gold has risen in 32 of 56 Januarys since 1971 (57%, against 55% for all months), with an average change of +2.1% and a median of +1.9%. Its best January was 1980 (+27.5%) and its worst 1981 (−14.1%). January ranks 1 of 12 by average change.
Gold in every January, 1971–2026
% change in the monthWhat happens in February after January
How often February rose after gold ended January higher or lower, compared with all months (55% rose).
After a higher January
InconclusiveAfter gold ends January higher, February has risen 53% of the time since 1971 (17 of 32), against 55% for all months, with an average change of +1.9% and a median of +1.3%: no meaningful pattern.
After a lower January
InconclusiveAfter gold ends January lower, February has risen 63% of the time since 1971 (15 of 24), against 55% for all months, with an average change of +0.6% and a median of +0.7%: a difference, but too few cases to rule out chance.
"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 January, Year by Year
Month-end close and the change in January, with February next to it.
| Year | Close, end of January | January | February after |
|---|---|---|---|
| 2026 | $4,745 | +9.3% | +10.6% |
| 2025 | $2,813 | +6.5% | +1.3% |
| 2024 | $2,048 | −1.1% | +0.3% |
| 2023 | $1,930 | +5.7% | −4.8% |
| 2022 | $1,795 | −1.8% | +5.9% |
| 2021 | $1,847 | −2.5% | −6.4% |
| 2020 | $1,583 | +4.2% | −1.2% |
| 2019 | $1,320 | +3.2% | −0.5% |
| 2018 | $1,339 | +2.5% | −1.8% |
| 2017 | $1,210 | +5.2% | +3.1% |
| 2016 | $1,116 | +5.2% | +10.6% |
| 2015 | $1,279 | +8.0% | −5.1% |
| 2014 | $1,240 | +3.1% | +6.6% |
| 2013 | $1,665 | +0.4% | −4.6% |
| 2012 | $1,744 | +13.9% | +1.5% |
| 2011 | $1,327 | −5.6% | +6.3% |
| 2010 | $1,079 | −0.8% | +2.8% |
| 2009 | $920 | +5.7% | +3.5% |
| 2008 | $923 | +10.7% | +5.2% |
| 2007 | $651 | +2.9% | +2.1% |
| 2006 | $569 | +10.9% | −2.2% |
| 2005 | $422 | −3.1% | +3.2% |
| 2004 | $400 | −4.0% | −1.0% |
| 2003 | $368 | +5.8% | −5.5% |
| 2002 | $282 | +2.1% | +5.2% |
| 2001 | $265 | −3.6% | +0.8% |
| 2000 | $283 | −2.4% | +3.7% |
| 1999 | $285 | −0.8% | +0.6% |
| 1998 | $305 | +5.0% | −2.4% |
| 1997 | $346 | −6.4% | +3.8% |
| 1996 | $406 | +4.8% | −1.2% |
| 1995 | $375 | −2.2% | +0.4% |
| 1994 | $378 | −3.5% | +1.0% |
| 1993 | $330 | −0.7% | −0.9% |
| 1992 | $354 | +0.3% | −0.3% |
| 1991 | $366 | −5.2% | −0.9% |
| 1990 | $415 | +4.1% | −1.8% |
| 1989 | $394 | −4.0% | −1.8% |
| 1988 | $458 | −5.4% | −7.0% |
| 1987 | $401 | +3.0% | +1.3% |
| 1986 | $351 | +7.3% | −3.5% |
| 1985 | $307 | −0.5% | −6.2% |
| 1984 | $374 | −2.3% | +5.5% |
| 1983 | $500 | +9.3% | −18.2% |
| 1982 | $387 | −2.6% | −6.3% |
| 1981 | $507 | −14.1% | −3.5% |
| 1980 | $653 | +27.5% | −2.5% |
| 1979 | $234 | +3.4% | +7.5% |
| 1978 | $176 | +6.5% | +3.7% |
| 1977 | $132 | −1.6% | +7.9% |
| 1976 | $128 | −8.6% | +3.2% |
| 1975 | $176 | −5.7% | +3.4% |
| 1974 | $133 | +18.0% | +22.6% |
| 1973 | $66.00 | +1.7% | +28.8% |
| 1972 | $47.15 | +8.1% | +2.2% |
| 1971 | $38.05 | +1.8% | +2.0% |
In the calendar in January
- New bullion coins for the year go on sale (American Eagles, Maple Leafs, Britannias).
- Chinese New Year falls in late January in some years; gold is a traditional gift.
Events that fall in the month; they do not explain any single year's move.
Gold by Month
Gold in January: FAQ
Is January a good month for gold?
Gold has risen in 57% of Januarys since 1971 (32 of 56), against 55% for all months, with an average change of +2.1%. January ranks 1 of 12 months by average change. In the last 10 years it rose 7 times. Seasonal patterns are not a reliable guide to any single year.
What was gold's best January?
1980, when gold rose 27.5%. The worst was 1981 (−14.1%).
What happens to gold in February after a higher January?
After gold ends January higher, February has risen 53% of the time since 1971 (17 of 32), against 55% for all months, with an average change of +1.9% and a median of +1.3%: no meaningful pattern.
What happens to gold in February after a lower January?
After gold ends January lower, February has risen 63% of the time since 1971 (15 of 24), against 55% for all months, with an average change of +0.6% and a median of +0.7%: a difference, but too few cases to rule out chance.
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{corgano2026goldinjanuaryevery, author = {{Corgano}}, title = {Gold in January: every January since 1971}, howpublished = {\url{https://goldprice.corgano.com/gold-in-january}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-10-27}}