# Gold eases as dollar gains, Fed rate cut bets lend support

> Gold eased on May 16 as the dollar gained and Fed Bank of New York President John Williams said cooling inflation was not enough to justify near-term rate cuts. Higher-for-longer rate expectations reduce the appeal of non-yielding gold.

- Date: 2024-05-16 · published 2024-05-16T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/30143-gold-eases-as-dollar-gains-fed-rate-cut-bets-lend-support
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Gold price moves reflect rate and currency expectations rather than feed supply or demand, so this has little direct bearing on feed commodity prices.

## Read by commodity

- DXY: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/gold-drifts-higher-rising-fed-rate-cut-expectations-boost-appeal-2024-05-16/

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