# Gold extends gains over 1% as US PPI data solidifies rate cut hopes

> Gold rose over 1% on Friday after U.S. producer price data strengthened expectations of a Fed rate cut the following month. Safe-haven demand tied to Middle East tensions also supported bullion.

- Date: 2024-10-11 · published 2024-10-11T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/27756-gold-extends-gains-over-1-as-us-ppi-data-solidifies-rate-cut-hopes
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A softer inflation read weakens the dollar and supports commodities broadly, but the effect on feed grains is indirect. Impact is marginal for feed buyers.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-08-23 | [Gold gains over 1% as Powell comments hint at September rate cut](https://feedsoft.ai/events/28687-gold-gains-over-1-as-powell-comments-hint-at-september-rate-cut.md) | -0.1% | -0.8% |
| DXY | 2024-06-03 | [Gold rises as soft US economic data spurs Fed rate cut bets](https://feedsoft.ai/events/29638-gold-rises-as-soft-us-economic-data-spurs-fed-rate-cut-bets.md) | +1.2% | +1.9% |
| DXY | 2024-11-07 | [Gold holds firm after US Fed rate cut, softer dollar](https://feedsoft.ai/events/27332-gold-holds-firm-after-us-fed-rate-cut-softer-dollar.md) | +1.0% | +0.8% |
| DXY | 2024-08-01 | [Gold extends record rally on Fed rate-cut bets, softer dollar](https://feedsoft.ai/events/29144-gold-extends-record-rally-on-fed-rate-cut-bets-softer-dollar.md) | -0.1% | -1.4% |
| DXY | 2019-10-31 | [Gold gains as dollar weakens after Fed's interest rate cut](https://feedsoft.ai/events/56483-gold-gains-as-dollar-weakens-after-fed-s-interest-rate-cut.md) | -0.1% | +0.8% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/gold-drifts-higher-after-data-supports-us-rate-cut-bets-2024-10-11/

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