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Gold rose after the Federal Reserve held rates at 5.25% to 5.50% but kept its dot plot showing three cuts this year. Spot gold traded at about $2,167 an ounce, and markets now see more than a 60% chance of a June cut.
Expectations for a June rate cut weaken the dollar and support commodity prices. The move reflects monetary policy rather than a change in feed supply or demand.
kitco.comNeils ChristensenMar 20, 2024After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
