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On this day — March 25, 2022
Friday — typically a higher-volatility close to the week. US monthly non-farm payrolls publish on the first Friday of each month at 8:30 AM ET, the single most-watched economic data release for gold.
Day 84 of 365 · Q1 2022 · 23.0% through the year
March 2022 gold market: Near-record spike, then the first Fed hike
VolatileA near-record war spike met the start of Fed tightening.
Gold briefly touched about $2,070 on March 8 — within a whisker of its record — as the Ukraine war and commodity shock peaked. It then reversed as the Federal Reserve delivered its first rate hike on March 16, closing the month near $1,940.
What drove gold in March 2022
- war and commodity-price peak
- first Fed rate hike (Mar 16, +25bp)
- extreme volatility
- real yields beginning to climb
Key events in March 2022
- Mar 8Gold spikes to ~$2,070, near its all-time high
- Mar 16Fed hikes rates for the first time since 2018
What happened next
The hiking cycle that began here would pressure gold for the next six months.
For gold buyers
The March 8 near-record proved a trap; the Fed's tightening campaign that began days later would pressure gold for most of the year.
Related months to read
Mar 25 across the years — 2020 → 2021
| Year | Mar 25 close | vs prior | |
|---|---|---|---|
| Mar 25, 2021 | $1,737.30 | +8.21% | View |
| Mar 25, 2020 | $1,605.50 | — | View |