# Gold drops over 2% as dollar strengthens; investors await Fed policy cues

> Gold dropped more than 2% as the dollar strengthened and investors awaited Fed policy signals. Traders put the chance of a December quarter-point Fed cut at 65%, down from about 80% before Trump's victory.

- Date: 2024-11-11 · published 2024-11-11T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/27337-gold-drops-over-2-as-dollar-strengthens-investors-await-fed-policy-cues
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Lower odds of near-term Fed easing keep the dollar supported, which pressures dollar-priced commodities and can weigh on grain and feed prices.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-11-09 | [Gold edges down as Fed's interest rate view strengthens dollar](https://feedsoft.ai/events/61963-gold-edges-down-as-fed-s-interest-rate-view-strengthens-dollar.md) | +0.2% | +1.0% |
| DXY | 2017-05-04 | [Gold plummets below $1,230 on hawkish US Fed stance as dollar strengthens \| IBTimes UK](https://feedsoft.ai/events/70923-gold-plummets-below-1-230-on-hawkish-us-fed-stance-as-dollar-strengthens.md) | +0.4% | -1.2% |
| DXY | 2024-12-19 | [Dollar strengthens as market digests Fed's hawkish cut](https://feedsoft.ai/events/27136-dollar-strengthens-as-market-digests-fed-s-hawkish-cut.md) | +0.5% | +1.4% |
| DXY | 2025-11-17 | [Dollar strengthens as traders await return of U.S. data \| Reuters](https://feedsoft.ai/events/22148-dollar-strengthens-as-traders-await-return-of-u-s-data-reuters.md) | +0.7% | -0.8% |
| DXY | 2026-07-23 | [Malaysia's Currency Dips as Dollar Strengthens on Fed Rate Speculation](https://feedsoft.ai/events/18627-malaysia-s-currency-dips-as-dollar-strengthens-on-fed-rate-speculation.md) | +0.2% | -1.9% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/gold-extends-decline-investors-await-us-data-fed-comments-2024-11-11/

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