Loading…
Spot gold fell 0.5% to $1,919.78 per ounce, extending its decline for a third session, as the dollar and Treasury yields rallied after the Fed warned of another possible rate hike. Markets priced a 45% chance of a further hike this year.
Gold moves here reflect rate and dollar expectations rather than agricultural supply or demand. The story has little direct bearing on feed prices.
cnbc.comReutersSep 21, 2023After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
