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On this day — September 7, 2023
Thursday — a normal trading day. Weekly US initial jobless claims publish at 8:30 AM ET on Thursdays, occasionally producing intraday gold movement.
Day 250 of 365 · Q3 2023 · 68.5% through the year
September 2023 gold market: Autumn low as yields hit multi-year highs
BearishMulti-year-high yields and a strong dollar marked the autumn low.
Gold fell toward $1,850–$1,870 in September as the Federal Reserve reinforced its higher-for-longer message and 10-year yields surged toward 4.6%, a multi-year high. A strong dollar compounded the pressure.
What drove gold in September 2023
- Fed higher-for-longer guidance
- 10-year yields near 4.6%
- US dollar strength
- ETF outflows
Key events in September 2023
- Sep 20Fed signals higher-for-longer; gold heads toward $1,850
What happened next
The October 7 war shock abruptly reversed gold's slide.
For gold buyers
September's low near $1,850 was the year's best entry point — set just days before war reignited safe-haven demand.
Related months to read
Sep 7 across the years — 2020 → 2022
| Year | Sep 7 close | vs prior | |
|---|---|---|---|
| Sep 7, 2022 | $1,702.70 | -5.52% | View |
| Sep 7, 2021 | $1,802.20 | -6.55% | View |
| Sep 7, 2020 | $1,928.50 | — | View |