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On this day — August 19, 2023
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 231 of 365 · Q3 2023 · 63.3% through the year
August 2023 gold market: Surging yields pressure gold
BearishA sharp rise in long-term yields weighed on gold.
Gold slipped toward $1,890–$1,915 in August as US Treasury yields climbed sharply — the 10-year pushed above 4.3% — on resilient growth and heavy government bond issuance. Higher yields steadily eroded gold's appeal.
What drove gold in August 2023
- 10-year yield above 4.3%
- resilient US growth
- heavy Treasury issuance
- firm dollar
Key events in August 2023
- Aug 21Gold dips below $1,900 as yields spike
What happened next
Yields kept climbing into September, dragging gold toward its autumn low.
For gold buyers
August underlined gold's tug-of-war with the bond market — when yields surged, gold had little defence.
Aug 19 across the years — 2020 → 2021
| Year | Aug 19 close | vs prior | |
|---|---|---|---|
| Aug 19, 2021 | $1,782.10 | -10.04% | View |
| Aug 19, 2020 | $1,981.00 | — | View |