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On this day — September 13, 2020
Sunday — the international gold market is closed. Spot quotes carry forward from the prior Friday close. Retail rates in jewellery markets may differ slightly based on local Sunday hours.
Day 257 of 366 · Q3 2020 · 70.2% through the year
September 2020 gold market: Correction as the dollar bounces
BearishAn orderly post-record pullback on a dollar bounce.
Gold spent September digesting its record run, slipping toward $1,880 as the dollar staged a recovery and risk appetite wobbled. The pullback was orderly — a consolidation of 2020's enormous gains rather than a trend reversal.
What drove gold in September 2020
- US dollar rebound
- stalled stimulus negotiations
- profit-taking
- rising real yields off the lows
Key events in September 2020
- Sep 23Gold dips toward $1,880 as the dollar firms
What happened next
September's pullback gave way to two months of range-trading before the vaccine shock in November.
For gold buyers
September's orderly pullback offered re-entry for buyers who missed the summer surge, without signalling the bull market was over.