# Gold leaps above $2,000 as dollar weakens on Fed pause bets | Reuters

> 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.

- Date: 2023-11-24 · published 2023-11-24T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/33076-gold-leaps-above-2-000-as-dollar-weakens-on-fed-pause-bets-reuters
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

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.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-10-21 | [Dollar dips as traders wait on Fed; Aussie gains By Reuters](https://feedsoft.ai/events/650-dollar-dips-as-traders-wait-on-fed-aussie-gains-by-reuters.md) | +0.5% | — |
| DXY | 2023-11-23 | [Gold up on weaker dollar as investors wait on Fed rate path](https://feedsoft.ai/events/33078-gold-up-on-weaker-dollar-as-investors-wait-on-fed-rate-path.md) | -0.4% | -1.1% |
| 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 | 2022-12-01 | [Gold soars 2% as Fed rate hike slowdown prospects hit dollar \| Reuters](https://feedsoft.ai/events/38159-gold-soars-2-as-fed-rate-hike-slowdown-prospects-hit-dollar-reuters.md) | -0.6% | -1.5% |
| DXY | 2019-10-31 | [Gold gains as dollar weakens after Fed's interest rate cut](https://feedsoft.ai/events/56483-gold-gains-as-dollar-weakens-after-fed-s-interest-rate-cut.md) | -0.1% | +0.8% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/gold-steadies-poised-second-weekly-gain-weaker-dollar-2023-11-24/

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