# Gold hits record high on bets for March start to Fed rate cuts

> Spot gold climbed 1.6% to $2,069.10 per ounce on Friday, reaching an all-time high. Traders increased their bets that the Fed would start cutting rates in March after Chair Powell said tightening was complete.

- Date: 2023-12-01 · published 2023-12-01T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/32473-gold-hits-record-high-on-bets-for-march-start-to-fed-rate-cuts
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Rate-cut expectations weaken the dollar and lift non-yielding assets such as gold. The effect on feed commodities is limited to the macro channel.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2025-03-20 | [Gold Hits Record High As Fed Signals Rate Cuts Amid Economic Tensions](https://feedsoft.ai/events/25478-gold-hits-record-high-as-fed-signals-rate-cuts-amid-economic-tensions.md) | +0.3% | -2.0% |
| DXY | 2024-08-01 | [Gold extends record rally on Fed rate-cut bets, softer dollar](https://feedsoft.ai/events/29144-gold-extends-record-rally-on-fed-rate-cut-bets-softer-dollar.md) | -0.1% | -1.4% |
| DXY | 2024-08-19 | [Sterling hits one-month high as Fed rate cut bets weigh on dollar \| Reuters](https://feedsoft.ai/events/29068-sterling-hits-one-month-high-as-fed-rate-cut-bets-weigh-on-dollar-reuters.md) | -0.8% | -0.7% |
| DXY | 2024-08-16 | [Gold rallies to record high on softer dollar, rate-cut expectations \| Reuters](https://feedsoft.ai/events/28697-gold-rallies-to-record-high-on-softer-dollar-rate-cut-expectations-reuters.md) | -0.2% | -0.8% |
| DXY | 2024-07-16 | [Gold sprints to all-time high as Fed rate-cut hopes boost demand](https://feedsoft.ai/events/29143-gold-sprints-to-all-time-high-as-fed-rate-cut-hopes-boost-demand.md) | +0.5% | +0.5% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/gold-set-3rd-weekly-gain-cooler-data-cements-fed-cut-bets-2023-12-01/

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