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Gold climbed toward the $2,000 level as the U.S. dollar weakened. Investors took the minutes from the Federal Reserve's latest meeting as a sign that the central bank had reached its interest-rate peak.
The dollar also eased against other major currencies.
A weaker dollar lowers the cost of dollar-priced commodities for foreign buyers and tends to support commodity prices broadly. Feed buyers should watch whether rate-peak expectations keep the dollar soft into 2024.
reuters.comAnjana AnilNov 21, 2023After 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.
