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On this day — September 12, 2025
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 255 of 365 · Q3 2025 · 69.9% through the year
September 2025 gold market: A weak dollar powers the rally on
BullishDollar weakness — gold's most reliable tailwind — drove it higher.
Gold remained strong in September as the US dollar weakened significantly through 2025 — one of the most reliable relationships in markets is that a falling dollar lifts gold. Reviving rate-cut expectations and continued investment demand reinforced the sustained bullish trend.
What drove gold in September 2025
- significant US dollar weakness
- Fed rate-cut expectations
- continued investment demand
- central-bank buying
Key events in September 2025
- Sep 17Fed signals/begins easing; dollar weakens, gold strengthens (verify date)
What happened next
Momentum and an actual rate cut carried gold to the historic $4,000 milestone in October.
For gold buyers
September leaned on gold's most dependable driver: when the dollar falls, gold tends to rise — and in 2025 the dollar fell hard.
Key terms this month
- Dollar–gold inverse relationship:
- Gold is priced in US dollars, so a weaker dollar generally makes gold cheaper for other currencies and lifts its price — one of the strongest relationships in markets.
Sep 12 across the years — 2020 → 2023
| Year | Sep 12 close | vs prior | |
|---|---|---|---|
| Sep 12, 2023 | $1,908.55 | +10.55% | View |
| Sep 12, 2022 | $1,726.40 | -11.35% | View |
| Sep 12, 2020 | $1,947.40 | — | View |