Gold and silver have slumped this year, with gold falling from a peak near $5,500 at the start of the year to around $4,000. Interest rates and the dollar have risen since Nov.
6 after jobs, CPI and PPI reports pointed to a strong labor market and sticky inflation.
Expectations of Fed rate hikes are lifting the dollar, which weighs on dollar-priced commodities and can make US feed ingredients less competitive abroad. Buyers should expect firmer dollar pressure on grain and oilseed prices while rate expectations hold.
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.