What was the gold price before BoJ ends negative rates?

Gold's monthly average was $2,023 a troy ounce in Feb 2024, the month before.

Gold after BoJ ends negative rates (19 Mar 2024)

Q: What did silver do after BoJ ends negative rates?

After BoJ ends negative rates, silver was 30.4% higher three months on and 46.3% higher twelve months on, measured from the Feb 2024 monthly average.

After BoJ ends negative rates on 19 Mar 2024, gold was 15.0% higher three months on and 47.5% higher twelve months on, measured from the Feb 2024 monthly average of $2,023 a troy ounce.

Gold before: $2,023; Feb 2024
Gold +3 months: +15.0%
Gold +12 months: +47.5%
Silver +12 months: +46.3%

In context

Japan’s first rate rise in 17 years ended negative rates and yield-curve control.

Over the same months silver was 30.4% higher three months on and 46.3% higher twelve months on.

Of the 29 market or central-bank moments on the chart with a full year after them, this ranks 4th for gold twelve months on.

The U.S. military operation before it on the chart: Red Sea (11 Jan 2024).

The one after: BoJ hike & carry-trade unwind (31 Jul 2024).

Monthly average prices in U.S. dollars per troy ounce (Kitco.com and the World Bank Pink Sheet), from the last full month before a period to its last full month; the record runs Feb 1971 to Oct 2026. What the record did, not a forecast. Source: boj.or.jp.

Open this in the chart

Updated Oct 2026 · record through Oct 2026