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On this day — September 15, 2022
Thursday — a normal trading day. Weekly US initial jobless claims publish at 8:30 AM ET on Thursdays, occasionally producing intraday gold movement.
Day 258 of 365 · Q3 2022 · 70.7% through the year
September 2022 gold market: Multi-year lows as the dollar peaks
BearishThe year's low, driven by a 20-year-high dollar.
Gold sank to its 2022 low around $1,620 in September as the US Dollar Index climbed above 114 — a 20-year high — and the Fed hiked 75 points for a third straight meeting. Dollar strength, not gold weakness, did most of the damage.
What drove gold in September 2022
- third straight +75bp Fed hike
- US Dollar Index above 114 (20-year high)
- global currency stress
- UK gilt crisis spillover
Key events in September 2022
- Sep 21Fed hikes 75bp again; gold heads to ~$1,620
- Sep 28Dollar peaks near 114 as UK bond market wobbles
What happened next
As the dollar peaked, gold staged a powerful rebound from November onward.
For gold buyers
September was gold's 2022 bottom in dollars — a reminder that a soaring dollar can mask gold's resilience in almost every other currency.
Related months to read
Sep 15 across the years — 2020 → 2021
| Year | Sep 15 close | vs prior | |
|---|---|---|---|
| Sep 15, 2021 | $1,797.00 | -7.82% | View |
| Sep 15, 2020 | $1,949.40 | — | View |