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On this day — December 18, 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 352 of 365 · Q4 2022 · 96.4% through the year
December 2022 gold market: Year ends with a quiet recovery
BullishA resilient flat year despite brutal rate hikes.
Gold firmed into year-end near $1,825, recovering most of its mid-year losses to finish 2022 roughly flat in dollar terms — a resilient result given the most aggressive Fed tightening in four decades. Record central-bank buying underpinned the recovery.
What drove gold in December 2022
- record central-bank gold purchases
- softening dollar
- Fed downshift to +50bp
- China reopening optimism
Key events in December 2022
- Dec 14Fed slows to a 50bp hike; gold holds firm
What happened next
Record official-sector buying set the stage for gold's run to new records in 2024.
For gold buyers
Finishing 2022 near flat despite brutal rate hikes was a quiet show of strength — and central banks, the year's biggest buyers, clearly agreed.
Dec 18 across the years — 2020 → 2021
| Year | Dec 18 close | vs prior | |
|---|---|---|---|
| Dec 18, 2021 | $1,807.70 | -3.84% | View |
| Dec 18, 2020 | $1,879.80 | — | View |