# Gold retreats to over one-month low after data dims rate-cut hopes

> 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.

- Date: 2024-01-17 · published 2024-01-17T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/32040-gold-retreats-to-over-one-month-low-after-data-dims-rate-cut-hopes
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

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.

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/gold-extends-slide-dollar-firms-hawkish-fedspeak-2024-01-17/

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