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Gold climbed to near a one-month high after US CPI rose 0.3% in April, less than the 0.4% forecast, and the dollar fell to its lowest in over a month. Spot silver jumped 3.6% as traders raised the odds of Fed rate cuts.
A softer dollar and lower Treasury yields signal easier financial conditions, which can support commodity prices broadly, though the direct link to feed grain prices is modest.
reuters.comRahul PaswanJun 1, 2024After 47 past bearish report events, DXY moved a median -0.2% over 5 sessions (34% higher; middle half -0.8% to +0.2%), and -0.7% over 20.
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.
