Gold’s worst year since 2015

Gold could see its worst performance since 2015 this year despite high inflation and fears of a recession, both of which typically provide positive price changes to the popular precious metal.

Gold hit about $2,040 US (about $2,630 Cdn.) a troy ounce in early March – up 13.5 per cent from the start of the year amid fears about Russia’s invasion of Ukraine – but has fallen 8.2 per cent as of mid-September.

“In the round, you could argue that gold is not doing particularly badly compared to where it could be,” World Gold Council CEO David Tait told Bloomberg this September, referencing increased interest rates and other economic factors playing into the precious metal’s price.

The Royal Canadian Mint reported decreased revenue in its bullion business line for the 13 and 26 weeks ended July 2. According to the Mint’s second quarter report, revenue decreased 14 per cent and eight per cent, respectively, to $761,000 and $1.556 million compared to the same periods in 2021.

“The decrease in revenue in both periods was mainly attributable to lower gold bullion volumes sold, as expected, partially offset by higher gold pricing,” reads the report.

Leave a Reply

Canadian Coin News


Canadian Coin News is Canada's premier source of information about coins, notes and medals.

Although we cover the entire world of numismatics, the majority of our readers are Canadian, and we concentrate on the unique circumstances surrounding collecting in our native land.

Send Us Your Event

Running an event? Send it to us and we will display it on Canadian Coin News!

Submit Event →

Subscribe To 26 Issues For Just $59.99/year

Subscribe today to receive Canada's premier coin publication. Canadian Coin News is available in both paper and digital forms.

Subscribe Now

We acknowledge the financial support of the Government of Canada through the Canada Periodical Fund of the Department of Canadian Heritage.