# Gold Flirts With Bear Market After Rate Hikes Batter Bullion - Bloomberg

> Gold fell to its lowest level since the early pandemic days and came close to a bear market, closing nearly 20% below its March all-time high. The selloff followed a run of central bank rate hikes, a record dollar, and renewed recession fears tied to the UK's economic plan.

- Date: 2022-09-23 · published 2022-09-23T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/39494-gold-flirts-with-bear-market-after-rate-hikes-batter-bullion-bloomberg
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A broad commodity selloff driven by rate hikes and a strong dollar signals weaker risk appetite across commodity markets, which can pressure feed commodity prices.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-03-17 | [Gold up as dollar, yields weaken after Fed’s in-line rate hike - Markets - Business Recorder](https://feedsoft.ai/events/42201-gold-up-as-dollar-yields-weaken-after-fed-s-in-line-rate-hike-markets-business.md) | -0.7% | -0.5% |
| DXY | 2023-07-13 | [Fund Investors Bet Against US Dollar After Fed Rate Hikes, Currency Weakening - Bloomberg](https://feedsoft.ai/events/9982-fund-investors-bet-against-us-dollar-after-fed-rate-hikes-currency-weakening.md) | -0.2% | +1.6% |
| DXY | 2018-06-13 | [Gold erases gains after Fed hikes interest rates](https://feedsoft.ai/events/64440-gold-erases-gains-after-fed-hikes-interest-rates.md) | +1.3% | +0.6% |
| DXY | 2026-05-21 | [Gold Holds Steady as US-Iran Talks Leave Rate Hike Outlook Unclear - Bloomberg](https://feedsoft.ai/events/19169-gold-holds-steady-as-us-iran-talks-leave-rate-hike-outlook-unclear-bloomberg.md) | -0.1% | +1.0% |
| DXY | 2021-06-16 | [Gold slides over 1% after Fed projects rate hikes into 2023](https://feedsoft.ai/events/46487-gold-slides-over-1-after-fed-projects-rate-hikes-into-2023.md) | +1.4% | +1.4% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2022-09-23/gold-steadies-near-two-year-low-after-parade-of-rate-hikes

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.