Gold after Red Sea (11 Jan 2024)
After Red Sea on 11 Jan 2024, gold was 15.1% higher three months on and 33.8% higher twelve months on, measured from the Dec 2023 monthly average of $2,026 a troy ounce.
- Gold before
- $2,026
- Dec 2023
- Gold +3 months
- +15.1%
- Gold +12 months
- +33.8%
- Silver +12 months
- +27.2%
In context
U.S. and partners struck Houthi targets in Yemen (evening, U.S. Eastern).
Over the same months silver was 15.1% higher three months on and 27.2% higher twelve months on.
Of the 11 U.S. military operations on the chart with a full year after them, this ranks 1st for gold twelve months on.
The market or central-bank moment before it on the chart: SVB fails (10 Mar 2023).
The one after: BoJ ends negative rates (19 Mar 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: defense.gov.
Updated Oct 2026 · record through Oct 2026