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Gold rose above $2,000 an ounce on Friday, its second straight weekly gain. The move came as the U.S. dollar fell on bets that the Federal Reserve has finished raising interest rates.
The dollar index was on track for a second weekly decline.
A softer dollar and expectations of Fed rate cuts next year support commodity prices and reduce the cost of dollar-denominated imports for emerging-market buyers. Feed buyers may see some relief on import costs if the trend holds.
reuters.comAnushree MukherjeeNov 24, 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.
