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On this day — December 27, 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 362 of 366 · Q4 2020 · 98.9% through the year
December 2020 gold market: Year-end recovery on more stimulus
BullishA firm finish that locked in gold's best year in a decade.
Gold recovered through December to close 2020 near $1,900, capping a remarkable year with a gain of roughly 25%. A weakening dollar, the passage of a new US stimulus package, and the rollout of vaccines amid still-soaring case counts kept the metal supported into year-end.
What drove gold in December 2020
- new US stimulus package
- weak US dollar
- ongoing pandemic despite vaccines
- negative real yields persisting
Key events in December 2020
- Dec 27US signs ~$900bn COVID relief package; gold firms
What happened next
2021 would open very differently, as recovery optimism and rising yields pressured gold for much of the year.
For gold buyers
2020 closed with gold up about 25% on the year — its best annual performance in a decade — rewarding anyone who bought the March or November dips.
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