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Gold Market Commentary: Q4 Turbulence Ahead

September in review

  • Gold lost 3.7% in September, with the bulk of the move occurring during the last three days of the month
  • We attribute gold’s challenging month to an extensive run up in bond yields alongside a

USD (oz) EUR (oz) JPY (g) GBP (oz) CAD (oz) CHF (oz) INR (10g) RMB (g) TRY (oz) AUD (oz)
30 Sep 2023 Price 1,871 1,769 8,983 1,533 2,540 1,712 49,939 439 51,293 2,907
September return -3.7% -1.3% -1.1% 0.0% -3.5% -0.2% -3.4% -3.2% -1.0% -3.2%
Y-T-D Return 3.1% 4.4% 17.5% 2.1% 3.3% 2.1% 3.5% 9.1% 51.2% 9.2%

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