# Gold marches ahead to the beat of a weaker US dollar

> 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.

- Date: 2023-11-21 · published 2023-11-21T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/33074-gold-marches-ahead-to-the-beat-of-a-weaker-us-dollar
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

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.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-07-29 | [US dollar teeters, gold takes a breather as markets await Fed \| The Straits Times](https://feedsoft.ai/events/52031-us-dollar-teeters-gold-takes-a-breather-as-markets-await-fed-the-straits-times.md) | +0.4% | -0.4% |
| DXY | 2019-11-01 | [US dollar could weaken to 85 on the dollar index: Citi](https://feedsoft.ai/events/56262-us-dollar-could-weaken-to-85-on-the-dollar-index-citi.md) | +0.2% | +0.9% |
| DXY | 2018-01-29 | [G10 FX Week Ahead: State of the dollar \| ING THINK](https://feedsoft.ai/events/67209-g10-fx-week-ahead-state-of-the-dollar-ing-think.md) | +0.4% | +1.0% |
| DXY | 2017-07-31 | [More dollar weakness ahead?](https://feedsoft.ai/events/70152-more-dollar-weakness-ahead.md) | +0.3% | -0.5% |
| DXY | 2026-07-30 | [Gold rises on weaker U.S. dollar, soft inflation data](https://feedsoft.ai/events/18260-gold-rises-on-weaker-u-s-dollar-soft-inflation-data.md) | -1.2% | -1.9% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/gold-rises-dollar-weakness-focus-turns-fed-minutes-2023-11-21/

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