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On this day — December 24, 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 358 of 365 · Q4 2022 · 98.1% 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 24 across the years — 2020 → 2021
| Year | Dec 24 close | vs prior | |
|---|---|---|---|
| Dec 24, 2021 | $1,805.20 | -3.72% | View |
| Dec 24, 2020 | $1,875.00 | — | View |