# Gold inches lower on firm dollar, yields; palladium extends fall | Reuters

> Gold edged lower on February 8 as a stronger dollar and elevated bond yields reduced hopes for an early Fed rate cut. Palladium extended its decline on weak long-term demand expectations. Markets priced about a 61% chance of a May cut.

- Date: 2024-02-08 · published 2024-02-08T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/31575-gold-inches-lower-on-firm-dollar-yields-palladium-extends-fall-reuters
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Higher yields and a firmer dollar weigh on precious metals and do not directly change feed commodity balances.

## Read by commodity

- DXY: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/gold-steady-fed-remarks-counter-safe-haven-demand-2024-02-08/

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