# Gold flirts with all-time highs as banking concerns deepen | Reuters

> 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.

- Date: 2023-05-04 · published 2023-05-04T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/35840-gold-flirts-with-all-time-highs-as-banking-concerns-deepen-reuters
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## 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.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-07-16 | [Gold sprints to all-time high as Fed rate-cut hopes boost demand](https://feedsoft.ai/events/29143-gold-sprints-to-all-time-high-as-fed-rate-cut-hopes-boost-demand.md) | +0.5% | +0.5% |
| DXY | 2023-12-13 | [With rate hikes likely done, Fed turns to timing of cuts \| Reuters](https://feedsoft.ai/events/32902-with-rate-hikes-likely-done-fed-turns-to-timing-of-cuts-reuters.md) | -1.0% | -0.7% |
| DXY | 2025-03-06 | [US dollar sinks as growth concerns weigh; safe-havens yen, Swiss franc advance \| Reuters](https://feedsoft.ai/events/7471-us-dollar-sinks-as-growth-concerns-weigh-safe-havens-yen-swiss-franc-advance.md) | -0.5% | -0.1% |
| 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 | 2020-05-29 | [Negative US interest rates could push gold price to all-time high: bank \| S&P Global](https://feedsoft.ai/events/53036-negative-us-interest-rates-could-push-gold-price-to-all-time-high-bank-s-and-p.md) | -1.4% | -0.6% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/gold-advances-us-fed-hints-rate-hike-pause-2023-05-04/

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