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On this day — September 15, 2023
Friday — typically a higher-volatility close to the week. US monthly non-farm payrolls publish on the first Friday of each month at 8:30 AM ET, the single most-watched economic data release for gold.
Day 258 of 365 · Q3 2023 · 70.7% 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.
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