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A volatile but roughly flat year: gold spiked near $2,070 after Russia invaded Ukraine, then gave it back as the Fed hiked aggressively.
Monthly path for 2022, anchored to the real open ($ 1,800.00), the high in March, the low in September, and the close ($ 1,824.00). The dashed line marks the yearly average; intra-year movement between anchor points is illustrative.
Year-over-year, gold fell -0.27% versus its 2021 close of $ 1,829.00.
Gold spiked toward a record in March as Russia’s invasion of Ukraine triggered a rush into safe havens.
The September low came as the most aggressive Fed rate hikes in decades sent the US dollar soaring.
2022 was a tug-of-war. The shock of Russia’s invasion of Ukraine sent gold spiking toward its all-time high near $2,070 in March as investors sought safety. But that strength quickly ran into the most aggressive Federal Reserve tightening in decades: as rates and the US dollar surged, gold slid all the way to about $1,615 by September.
Remarkably, despite that punishing headwind, gold recovered into year-end and finished roughly flat — a quietly impressive result given how badly higher real yields “should” have hurt a non-yielding asset. It underlined gold’s resilience in a year that battered most other assets.
Russia’s invasion of Ukraine in February sent gold spiking toward a record near $2,070 in March.
The Federal Reserve raised interest rates aggressively to fight inflation, lifting the dollar and bond yields.
Gold fell to a yearly low around $1,615 in September under the weight of a surging dollar.
A late-year recovery left gold close to where it started — roughly flat for 2022.
Aggressive Federal Reserve rate hikes and a soaring US dollar offset gold’s inflation-hedge appeal, leaving it roughly unchanged after a volatile year.
Gold spiked to nearly $2,070 per troy ounce in March 2022, just shy of its record, as the war triggered safe-haven buying.
Gold's 2022 high was about $ 2,070.00 per troy ounce, reached in March.
The average gold price in 2022 was roughly $ 1,802.00 per troy ounce — it opened near $ 1,800.00 and closed around $ 1,824.00.
Gold rose about 0.4% over 2022, between a low of $ 1,615.00 and a high of $ 2,070.00.
Historical figures are approximate annual values shown for educational analysis and may differ from other sources. This is not financial advice — see our disclaimer.