# Gold rises on softer dollar as focus shifts to US inflation data

> Gold rose as the dollar softened ahead of US inflation data, with traders pricing about a 63% chance of a Fed rate cut by November. The move follows Fed meeting minutes that showed policymakers were in no hurry to ease.

- Date: 2024-06-01 · published 2024-06-01T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/30146-gold-rises-on-softer-dollar-as-focus-shifts-to-us-inflation-data
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations for lower rates weaken the dollar, which tends to support dollar-priced commodities, though this is a precious metals story with limited feed relevance.

## Read by commodity

- DXY: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/gold-steady-focus-turns-us-inflation-data-2024-05-28/

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