ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Gold has been on a downward price trend in 2022, reflecting the attractiveness of holding U.S. dollars instead
Market Spotlight

Gold loses shine amid rising interest rates and strong dollar

Inflation can still propel it higher next year, analysts say

RURIKA IMAHASHI, Nikkei staff writer | North America

TOKYO -- Gold is losing its shine. The precious metal, whose price neared a record high at the onset of the war in Ukraine, has come back to earth in the second half of the year after a string of U.S. interest rate increases and a surge in the value of the dollar.

Benchmark gold futures prices in New York are at $1,729 per ounce as of early October, down 15% from early March. At one point in late September the benchmark fell to $1,626, the lowest since April 2020.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more