# This is what’s really driving the commodity complex and the precious metals rally – CME Group | Kitco News

> A CME Group analysis says the US dollar is the most important catalyst for commodities, alongside geopolitical tensions, central bank gold demand and industrial silver demand. It notes that the last 14 months brought a historic performance for global commodities.

- Date: 2026-05-12 · published 2026-05-12T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/19170-this-is-what-s-really-driving-the-commodity-complex-and-the-precious-metals
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A dollar-led driver across commodities means currency moves can shift prices for grains, metals and energy together, which affects the cost of feed ingredients for buyers.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-10-04 | [Opinion: What’s driving the rare simultaneous rise in gold and the dollar - MarketWatch](https://feedsoft.ai/events/56489-opinion-what-s-driving-the-rare-simultaneous-rise-in-gold-and-the-dollar.md) | -0.3% | -1.6% |
| DXY | 2022-02-11 | [The Commodities Feed: US Fed pressure weighs on the commodities complex \| snaps \| ING THINK](https://feedsoft.ai/events/42647-the-commodities-feed-us-fed-pressure-weighs-on-the-commodities-complex-snaps.md) | +0.1% | +2.2% |
| DXY | 2018-04-26 | [The Soaring Dollar Crushes The Commodity Rally \| Gold Eagle](https://feedsoft.ai/events/65438-the-soaring-dollar-crushes-the-commodity-rally-gold-eagle.md) | +0.7% | +2.1% |
| DXY | 2025-05-08 | [How the Fed’s Hold on Rates Is Affecting Stock, Bond, and Commodity Markets \| Investing.com](https://feedsoft.ai/events/24579-how-the-fed-s-hold-on-rates-is-affecting-stock-bond-and-commodity-markets.md) | +0.5% | -0.9% |
| DXY | 2018-09-01 | [Rising US real interest rates imply falling real commodity prices](https://feedsoft.ai/events/63460-rising-us-real-interest-rates-imply-falling-real-commodity-prices.md) | +0.4% | -0.4% |

## Sources

- kitco.com: https://www.kitco.com/news/article/2026-05-12/whats-really-driving-commodity-complex-and-precious-metals-rally-cme-group

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.