# Gold jumps and industrial metals rally as US Fed signals upcoming interest rate cut

> Gold rose to about $2,450 per ounce on July 31 after the Fed signaled a possible rate cut as soon as September. Industrial metals gained as the dollar weakened.

- Date: 2024-07-31 · published 2024-07-31T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/29145-gold-jumps-and-industrial-metals-rally-as-us-fed-signals-upcoming-interest-rate
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker dollar on expected Fed easing supports dollar-priced commodities broadly, though feed-specific impact is indirect.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-03-21 | [Copper price resumes rally as Fed rate signals boost industrial metals - MINING.COM](https://feedsoft.ai/events/31103-copper-price-resumes-rally-as-fed-rate-signals-boost-industrial-metals-mining.md) | +0.1% | +1.7% |
| DXY | 2023-12-13 | [Dollar drops as Fed signals coming rate cuts](https://feedsoft.ai/events/8296-dollar-drops-as-fed-signals-coming-rate-cuts.md) | -1.0% | -0.7% |
| 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% |
| DXY | 2023-02-02 | [USD falls on Fed slowing inflation comments, gold and base metals boosted \| IG International](https://feedsoft.ai/events/37235-usd-falls-on-fed-slowing-inflation-comments-gold-and-base-metals-boosted-ig.md) | +1.3% | +2.1% |
| DXY | 2026-07-29 | [Gold price jumps as Federal Reserve leaves interest rates unchanged \| Kitco News](https://feedsoft.ai/events/18263-gold-price-jumps-as-federal-reserve-leaves-interest-rates-unchanged-kitco-news.md) | -0.9% | -2.0% |

## Sources

- miningnews.net: https://www.miningnews.net/precious-metals/news-articles/4341871/gold-jumps-industrial-metals-rally-us-fed-signals-upcoming-interest-rate-cut

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