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Producers of metals, grains and other raw materials rallied on July 30 as the U.S. dollar weakened after the Federal Reserve's policy statement. Fed Chairman Kevin Warsh indicated he would wait to see whether rising Treasury yields cooled inflation before acting, which eased fears of a near-term rate hike.
Gold futures rose $63.80 to $4,100.10 an ounce.
A weaker dollar makes dollar-priced commodities cheaper for overseas buyers, supporting raw material prices. Reduced odds of a hike remove some of the dollar strength that had been pressuring ag markets.
marketwatch.comJul 30, 2026After 1,637 past bearish macro events, DXY moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
