Gold after BoJ hike & carry-trade unwind (31 Jul 2024)
After BoJ hike & carry-trade unwind on 31 Jul 2024, gold was 15.6% higher three months on and 43.6% higher twelve months on, measured from the Jun 2024 monthly average of $2,326 a troy ounce.
- Gold before
- $2,326
- Jun 2024
- Gold +3 months
- +15.6%
- Gold +12 months
- +43.6%
- Silver +12 months
- +27.4%
In context
The BoJ raised rates to 0.25%; the yen carry trade unwound with a global sell-off on Aug 5.
Over the same months silver was 9.5% higher three months on and 27.4% higher twelve months on.
Of the 29 market or central-bank moments on the chart with a full year after them, this ranks 5th for gold twelve months on.
The market or central-bank moment before it on the chart: BoJ ends negative rates (19 Mar 2024).
The one after: Fed’s first cut of the cycle (18 Sep 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.
Updated Oct 2026 · record through Oct 2026