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

> 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.

- Date: 2024-08-16 · published 2024-08-16T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/28697-gold-rallies-to-record-high-on-softer-dollar-rate-cut-expectations-reuters
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## 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.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2025-11-28 | [Dollar Finishes Lower and Gold Rallies on Fed Rate Cut Expectations](https://feedsoft.ai/events/21879-dollar-finishes-lower-and-gold-rallies-on-fed-rate-cut-expectations.md) | -0.5% | -1.5% |
| 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 | 2025-09-01 | [Stocks hit fresh record high but US dollar weakens as Fed rate cut expectations gain momentum](https://feedsoft.ai/events/23517-stocks-hit-fresh-record-high-but-us-dollar-weakens-as-fed-rate-cut-expectations.md) | -0.1% | -0.1% |
| DXY | 2020-03-01 | [Dollar retreats as coronavirus fallout raises expectations of rate cut](https://feedsoft.ai/events/54508-dollar-retreats-as-coronavirus-fallout-raises-expectations-of-rate-cut.md) | -0.8% | +4.0% |
| 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% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/gold-eyes-weekly-gain-us-rate-cut-bets-2024-08-16/

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