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On this day — June 25, 2023
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.
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 176 of 365 · Q2 2023 · 48.2% through the year
June 2023 gold market: Higher-for-longer rates weigh
BearishA hawkish 'skip' and resilient economy pressured gold.
Gold eased toward $1,920 in June as the Federal Reserve 'skipped' a hike but signalled more tightening ahead, and a resilient US economy pushed back rate-cut bets. Rising real yields gradually sapped the metal's momentum.
What drove gold in June 2023
- Fed pause but hawkish guidance
- resilient US economy
- rising real yields
- firm dollar
Key events in June 2023
- Jun 14Fed holds but projects more hikes; gold softens
What happened next
A cooler inflation print briefly revived gold in July before yields surged again.
For gold buyers
June marked the start of a summer grind lower as the market accepted that rate cuts were further off than hoped.
Jun 25 across the years — 2020 → 2022
| Year | Jun 25 close | vs prior | |
|---|---|---|---|
| Jun 25, 2022 | $1,825.50 | +2.17% | View |
| Jun 25, 2021 | $1,786.70 | +1.71% | View |
| Jun 25, 2020 | $1,756.60 | — | View |