# Gold logs biggest weekly fall in over five months on dollar strength

> Gold posted its biggest weekly decline in over five months as the dollar strengthened. The Fed cut rates by 25 basis points but signaled a cautious approach to further cuts, and questions grew about slower future easing after Trump's election win.

- Date: 2024-11-08 · published 2024-11-08T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/27335-gold-logs-biggest-weekly-fall-in-over-five-months-on-dollar-strength
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations of fewer Fed cuts keep the dollar firm, which weighs on dollar-denominated commodity prices and can make US feed exports less competitive abroad.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-01-28 | [Dollar poised for biggest weekly rise in 7 months on rate bets](https://feedsoft.ai/events/12224-dollar-poised-for-biggest-weekly-rise-in-7-months-on-rate-bets.md) | -0.9% | -0.6% |
| DXY | 2016-11-18 | [Dollar index set for biggest 2-week rise in 20 months](https://feedsoft.ai/events/8329-dollar-index-set-for-biggest-2-week-rise-in-20-months.md) | +1.0% | +1.3% |
| DXY | 2018-05-18 | [China's yuan set to post biggest weekly fall in 3 months as dollar tracks yields higher](https://feedsoft.ai/events/65231-china-s-yuan-set-to-post-biggest-weekly-fall-in-3-months-as-dollar-tracks.md) | +0.1% | +1.8% |
| DXY | 2024-08-30 | [Sterling steady but heads for weekly fall on dollar strength \| Reuters](https://feedsoft.ai/events/29065-sterling-steady-but-heads-for-weekly-fall-on-dollar-strength-reuters.md) | +0.2% | -0.9% |
| DXY | 2026-10-02 | [FOREX-Euro set for biggest weekly fall in months vs dollar as France fiscal trajectory weighs \| International](https://feedsoft.ai/events/9652-forex-euro-set-for-biggest-weekly-fall-in-months-vs-dollar-as-france-fiscal.md) | -0.3% | -0.1% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/gold-ticks-lower-holds-near-key-2700-level-2024-11-08/

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