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On this day — May 14, 2022
Akshaya Tritiya: One of the most important gold-buying days in the Hindu calendar — Indian households often buy gold for the day, treating it as auspicious for wealth and prosperity. India's monthly gold imports typically surge 20–40 percent in the month containing Akshaya Tritiya.
Saturday — the international gold market is closed. Most retail jewellery markets, especially in Asia and the Middle East, see peak Saturday foot-traffic and physical trade activity.
Day 134 of 365 · Q2 2022 · 36.7% through the year
May 2022 gold market: Gold grinds lower toward $1,840
BearishRelentless dollar strength ground gold lower.
Gold drifted down to about $1,840 in May 2022 as the dollar pushed to new multi-decade highs and the Fed delivered a half-point hike. The metal held up better than many risk assets but could not escape the gravitational pull of rising rates.
What drove gold in May 2022
- Fed +50bp hike
- multi-decade-high US dollar
- rising real yields
- risk-asset selloff
Key events in May 2022
- May 4Fed hikes 50bp; dollar strength caps gold
What happened next
An even larger June hike pushed gold and most assets sharply lower.
For gold buyers
May showed gold's relative resilience — falling less than stocks or bonds — even as the rate backdrop turned hostile.
May 14 across the years — 2020 → 2021
| Year | May 14 close | vs prior | |
|---|---|---|---|
| May 14, 2021 | $1,838.10 | +6.15% | View |
| May 14, 2020 | $1,731.60 | — | View |