
Spot gold fell more than 1% to $4,078.53 an ounce after Federal Reserve Governor Christopher Waller said the Fed should raise rates next month even if inflation cooled. Traders priced about a 99% chance of a December hike.
Higher expected US rates strengthen the dollar and reduce the appeal of non-yielding assets. For feed buyers, the impact runs mainly through dollar-denominated commodity prices and import demand.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.