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On this day — June 25, 2022
Western wedding season: Western (especially US and European) gold and platinum jewellery demand peaks in May, June and December — combined wedding and gift seasons. US jewellery sales typically see 30–50 percent surges in these months.
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 176 of 365 · Q2 2022 · 48.2% through the year
June 2022 gold market: Biggest Fed hike since 1994 weighs on gold
BearishAggressive tightening and a strong dollar dragged gold down.
Gold drifted lower to around $1,820 in June as the Federal Reserve delivered a 0.75-point hike — its largest since 1994 — and the dollar strengthened. Rising real yields steadily eroded gold's appeal even as recession fears built.
What drove gold in June 2022
- Fed +75bp (Jun 15)
- surging US dollar
- rising real yields
- building recession fears
Key events in June 2022
- Jun 15Fed hikes 75bp, its largest move since 1994
What happened next
The relentless hikes pushed gold below $1,700 in July and toward its lows by September.
For gold buyers
June underscored that aggressive rate hikes, not inflation alone, were driving gold — and the hikes were winning.
Jun 25 across the years — 2020 → 2021
| Year | Jun 25 close | vs prior | |
|---|---|---|---|
| Jun 25, 2021 | $1,786.70 | +1.71% | View |
| Jun 25, 2020 | $1,756.60 | — | View |