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On this day — April 17, 2022
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 107 of 365 · Q2 2022 · 29.3% through the year
April 2022 gold market: Tightening cycle pressures gold
BearishRising yields and a firm dollar drained the war premium.
Gold eased from around $1,940 toward $1,900 in April 2022 as the Federal Reserve signalled faster rate hikes and balance-sheet reduction. Rising real yields and a strengthening dollar steadily drained the war premium built up in February and March.
What drove gold in April 2022
- Fed signalling faster tightening
- rising real yields
- strengthening US dollar
- fading war premium
Key events in April 2022
- Apr 21Hawkish Fed commentary lifts yields; gold slips toward $1,900
What happened next
The pressure intensified in May and June as the Fed accelerated its hikes.
For gold buyers
April marked the handover from war-driven demand to Fed-driven pressure that would dominate gold for months.