# Gold sprints to all-time high as Fed rate-cut hopes boost demand

> Gold hit an all-time high on July 17 as traders grew more confident of a Federal Reserve rate cut in September and the dollar weakened. Spot gold was around $2,455 per ounce after some profit-taking.

- Date: 2024-07-16 · published 2024-07-16T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/29143-gold-sprints-to-all-time-high-as-fed-rate-cut-hopes-boost-demand
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Gold's rally reflects broad dollar weakness on rate-cut bets, a macro backdrop that can support dollar-priced grain and oilseed markets but has little direct effect on feed supply.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-12-01 | [Gold hits record high on bets for March start to Fed rate cuts](https://feedsoft.ai/events/32473-gold-hits-record-high-on-bets-for-march-start-to-fed-rate-cuts.md) | +0.3% | -1.5% |
| DXY | 2020-05-29 | [Negative US interest rates could push gold price to all-time high: bank \| S&P Global](https://feedsoft.ai/events/53036-negative-us-interest-rates-could-push-gold-price-to-all-time-high-bank-s-and-p.md) | -1.4% | -0.6% |
| 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 | 2025-03-20 | [Gold Hits Record High As Fed Signals Rate Cuts Amid Economic Tensions](https://feedsoft.ai/events/25478-gold-hits-record-high-as-fed-signals-rate-cuts-amid-economic-tensions.md) | +0.3% | -2.0% |
| 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-firms-us-rate-cut-optimism-boosts-appeal-2024-07-16/

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