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2022 Roundup: How Did Gold Fare?

price of gold in 2022

How Did The Price Of Gold Do in 2022?

Now that the year is over and we are moving forward into 2023, you may look at your investments and wonder how they are doing. You may be reading reports about gold and hearing news about its trends, figuring out if you should invest more or pull some money out, and how to better prepare for retirement. Keep reading to learn more about the price of gold in 2022, and whether you should keep your money in this shiny, yellow precious metal we all love so much.

The Price of Gold in 2022: What the Experts Say

The gold price trended downward in 2022, but experts agree the yellow metal has held its value well in today’s inflationary environment. Gold’s status as a safe haven and a hedge against inflation provided support in 2022 as the yellow metal battled headwinds from a strong US dollar and the US Federal Reserve’s attack on inflation.

On course to shed 1.6 percent for the year, gold was unable to retain gains made in the first quarter, when a price spike following Russia’s invasion of Ukraine sent the precious metal to a 19-month high of US$2,053 an ounce. The March surge was a 13 percent increase from January’s start value but was short-lived as gold returned to the US$1,939 level by the end of Q1. The second quarter of the year saw further consolidation as gold slipped to US$1,811, while market volatility sent the Dow Jones Industrial Average (INDEXDJX:.DJI) and the tech-heavy NASDAQ Composite (INDEXNASDAQ:.IXIC) into bear market territory. By Q3, seasonal weakness paired with a surging US dollar had forced gold to a 30-month low of US$1,691.

What Affected the Price of Gold in 2022?

There were many factors that affected the price of gold in 2022. Some of these include:

  1. Russia-Ukraine war. One of the biggest draws to investing in gold is the fact that its value goes up when the value of the dollar goes down. Economic uncertainty is one reason the dollar’s value goes down. Economic uncertainty can happen in any country at any time when there is a war, which is what happened at the beginning of 2022. This saw a spike in precious metals sales.
  2. Inflation. Gold is also very well known to be a hedge against inflation. As mentioned, when the value of the dollar decreases, the value of gold goes up, which protects your savings and retirement accounts from losing their value. Without a hedge against inflation, these accounts go down drastically in value.
  3. Bar and coin demand. Another one of the factors that affect the price of gold in general, but especially the price of gold in 2022, is supply and demand. Inflation affects every industry, including the mining of gold, which saw a decrease in supply this year along with an increase in demand.

Should I Invest in Gold?

If you are looking at the price of gold in 2022 and wondering whether you should still invest, the answer is yes! According to, Gold prices are staging a strong end to 2022 on hopes inflation has cooled while China continues to alleviate its stringent zero-Covid restrictions. Since the beginning of November, gold prices have been up almost 13%. Markets continue to price in recent U.S. data that showed cooler-than-expected inflation and consumer spending. This data could lift some burden off the Federal Reserve’s shoulders and allow it to slow the pace of interest rate hikes.

This run will likely continue well into 2023, so now is the best time to invest in gold before prices go up even higher. Protecting your retirement and savings accounts is important, as inflation is expected to keep going up as well. Investing in gold is the best thing you can do to protect yourself and ensure your retirement is secure and safe.

Invest in Gold in 2023 with Priority Gold

The price of gold in 2022 is ending strong and is expected to last well into next year by many experts. If you are ready to invest in gold to protect your savings and secure your future, we can help. Priority Gold is one of the most trusted precious metals dealers in the United States with BBB A+ Rating, AAA Rating with Business Consumer Alliance, and 5 Stars Rating with TrustLink.

We specialize in providing precious metals investment services with Security, Liability, and Great Convenience for customers. Our team is committed to helping to streamline their precious metals purchases at a fair price, selecting the right precious metals portfolios, and meeting their important financial objectives.

We offer Free Storage for qualifying Gold & Silver IRA accounts, a fast & easy gold buying process, and smooth IRA Transfer. And gold shows up on schedule. Priority Gold guarantees the highest standards of customer service, which comes with honesty, professional conduct, and an Ethical Code of Business.

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