Goldify Pro
Live Gold Rates & Tools
On this day — August 13, 2022
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 225 of 365 · Q3 2022 · 61.6% through the year
August 2022 gold market: A brief bounce undone at Jackson Hole
BearishA mid-month bounce crushed by a hawkish Jackson Hole.
Gold bounced toward $1,800 in early August 2022 on hopes of a Fed slowdown, but the rally reversed hard after Chair Powell's hawkish Jackson Hole speech on August 26 reaffirmed the central bank's commitment to crushing inflation. The metal slid back toward $1,710 by month-end.
What drove gold in August 2022
- early-month Fed-slowdown hopes
- hawkish Powell Jackson Hole speech (Aug 26)
- rising real yields
- firm dollar
Key events in August 2022
- Aug 26Powell's hawkish Jackson Hole speech reverses gold's bounce
What happened next
The renewed hawkishness drove gold to its 2022 low the following month.
For gold buyers
August was a bull trap — the early bounce evaporated the moment the Fed reasserted its resolve.
Aug 13 across the years — 2020 → 2021
| Year | Aug 13 close | vs prior | |
|---|---|---|---|
| Aug 13, 2021 | $1,773.90 | -8.76% | View |
| Aug 13, 2020 | $1,944.30 | — | View |