Any way you slice it, 2022 was a turbulent year, from Russia’s invasion of Ukraine to historic inflation and jumbo rate hikes to multiple failures in the digital asset space.

Bullion's losses were capped by a drop in both Treasury yields and the dollar, which kept prices above the $1,800 an ounce level.

Bullion has gained nearly $200 after falling to a more than two-year low in late September.

The electric-vehicle maker’s market valuation has shrunk to roughly $372 billion.

The interplay between inflation and central bank intervention will be key in determining the outlook for gold’s performance in 2023, according to the World Gold Council.