# Gold loses footing as US dollar rises; Fed in focus

> 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.

- Date: 2024-03-19 · published 2024-03-19T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/31101-gold-loses-footing-as-us-dollar-rises-fed-in-focus
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

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.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-11-28 | [Gold markets: The Fed, dollar in focus](https://feedsoft.ai/events/61959-gold-markets-the-fed-dollar-in-focus.md) | -0.8% | -0.8% |
| DXY | 2018-10-01 | [Gold markets: Dollar, the Fed, trade in focus](https://feedsoft.ai/events/62443-gold-markets-dollar-the-fed-trade-in-focus.md) | +0.7% | +1.8% |
| DXY | 2022-05-03 | [Dollar approaches 20-year highs, Fed meeting in focus](https://feedsoft.ai/events/8314-dollar-approaches-20-year-highs-fed-meeting-in-focus.md) | +0.5% | -1.5% |
| DXY | 2021-09-30 | [Dollar near one-year high as Fed tightening in focus \| Reuters](https://feedsoft.ai/events/45253-dollar-near-one-year-high-as-fed-tightening-in-focus-reuters.md) | +0.0% | -1.1% |
| DXY | 2018-11-12 | [Forex market: Fed, Brexit and dollar in focus](https://feedsoft.ai/events/62251-forex-market-fed-brexit-and-dollar-in-focus.md) | -0.4% | -0.2% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/gold-holds-ground-investors-seek-direction-fed-2024-03-19/

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