# Gold retreats on Fed's higher-for-longer stance

> 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.

- Date: 2023-09-21 · published 2023-09-21T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/34007-gold-retreats-on-fed-s-higher-for-longer-stance
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Gold moves here reflect rate and dollar expectations rather than agricultural supply or demand. The story has little direct bearing on feed prices.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-12-15 | [Gold broods over Fed's higher-for-longer rate hike stance](https://feedsoft.ai/events/38157-gold-broods-over-fed-s-higher-for-longer-rate-hike-stance.md) | +0.4% | -2.2% |
| DXY | 2021-11-30 | [Gold retreats as Fed's Powell strikes hawkish tone](https://feedsoft.ai/events/43957-gold-retreats-as-fed-s-powell-strikes-hawkish-tone.md) | -0.4% | -1.0% |
| DXY | 2023-10-11 | [Brazil: How higher for how longer? – Rabobank — Octa](https://feedsoft.ai/events/33833-brazil-how-higher-for-how-longer-rabobank-octa.md) | +0.2% | -0.7% |
| DXY | 2018-11-10 | [Gold falls to one-month low as Fed affirms rate-hiking stance](https://feedsoft.ai/events/61962-gold-falls-to-one-month-low-as-fed-affirms-rate-hiking-stance.md) | -0.4% | -0.2% |
| DXY | 2023-09-20 | [Oil prices ease 1% after US Fed warns of higher rates for longer](https://feedsoft.ai/events/34005-oil-prices-ease-1-after-us-fed-warns-of-higher-rates-for-longer.md) | +1.1% | +2.2% |

## Sources

- cnbc.com: https://www.cnbc.com/2023/09/21/gold-prices-dip-as-fed-ratchets-up-tightening-bias.html

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