◂ Event Timeline

Aug 16, 2024MACROGlobal

Gold rallies to record high on softer dollar, rate-cut expectations

Gold hit an all-time high on 16 August as the dollar weakened on growing expectations of a September Fed rate cut. Middle East tensions also boosted demand for bullion.

WHY IT MATTERS

A softer dollar and geopolitical risk support dollar-priced assets, but gold is not a feed input, so the direct effect on feed markets is limited.

AFFECTSUS Dollar (Broad)▼

SOURCE
reuters.comBrijesh Patel, Rahul PaswanAug 16, 2024

Price reaction & history

US Dollar (Broad)▼bearishSO FAR1d -0.2%5d -0.2%20d -0.8%

After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.

Nov 28, 2025Dollar Finishes Lower and Gold Rallies on Fed Rate Cut Expectations-0.5%
Aug 1, 2024Gold extends record rally on Fed rate-cut bets, softer dollar-0.1%
Sep 1, 2025Stocks hit fresh record high but US dollar weakens as Fed rate cut expectations gain momentum-0.1%
Mar 1, 2020Dollar retreats as coronavirus fallout raises expectations of rate cut-0.8%
Nov 7, 2024Gold holds firm after US Fed rate cut, softer dollar+1.0%

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.

US Dollar (Broad) DXY · GP ▸

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