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Spot gold fell to its lowest level since December 13, down 1.2% at $2,003.89 per ounce. The drop followed data that reduced expectations for Federal Reserve rate cuts.
It was the metal's biggest one-day decline since early December.
Gold is not a feed commodity, so the move matters mainly as a signal of rate expectations and dollar direction. Lower rate-cut hopes weigh on the broader commodity complex.
reuters.comAnushree Ashish MukherjeeJan 17, 2024Not enough comparable past events yet for a historical read.
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.
