◂ Event Timeline

May 4, 2023MACROUS

Gold flirts with all-time highs as banking concerns deepen

Gold approached record highs as US banking concerns boosted safe-haven demand and bets on a pause in Fed rate hikes. Weekly jobless claims rose to 242,000, slightly above forecasts.

Spot gold was about $27 below its all-time high.

WHY IT MATTERS

Banking stress and rate-pause bets point to a softer dollar and a risk-off tone that can support hard assets, with limited direct effect on feed grain fundamentals.

AFFECTSUS Dollar (Broad)▼

SOURCE
reuters.comSeher DareenMay 4, 2023

Price reaction & history

US Dollar (Broad)▼bearishSO FAR1d -0.1%5d -0.5%20d +0.8%

After 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.

Jul 16, 2024Gold sprints to all-time high as Fed rate-cut hopes boost demand+0.5%
Dec 13, 2023With rate hikes likely done, Fed turns to timing of cuts | Reuters-1.0%
Mar 6, 2025US dollar sinks as growth concerns weigh; safe-havens yen, Swiss franc advance | Reuters-0.5%
Aug 19, 2024Sterling hits one-month high as Fed rate cut bets weigh on dollar | Reuters-0.8%
May 29, 2020Negative US interest rates could push gold price to all-time high: bank | S&P Global-1.4%

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.

US Dollar (Broad) DXY · GP ▸

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