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Gold prices retreated as the dollar strengthened ahead of the Federal Reserve's policy decision. The market was awaiting comments from Fed Chair Jerome Powell on the outlook for rates.
Higher rates and a stronger dollar weigh on non-yielding assets and raise the cost of dollar-priced commodities. The impact on feed prices is limited.
reuters.comAnjana AnilMar 19, 2024After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
