# Gold hits 2-month low on US debt talks progress, rate hike bets | Reuters

> Gold fell to a two-month low on May 25 as progress in US debt ceiling talks reduced safe-haven demand. Strong economic data increased expectations of another Federal Reserve rate hike.

- Date: 2023-05-25 · published 2023-05-25T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/35842-gold-hits-2-month-low-on-us-debt-talks-progress-rate-hike-bets-reuters
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations of tighter US policy support the dollar and reduce the appeal of commodities priced in dollars, a mild headwind for grain and oilseed prices.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-10-12 | [Money markets ramp up global rate hike bets, add pressure on central banks \| Reuters](https://feedsoft.ai/events/44808-money-markets-ramp-up-global-rate-hike-bets-add-pressure-on-central-banks.md) | -0.5% | -0.7% |
| DXY | 2022-04-28 | [Gold hits lowest level in more than 2 months on lofty dollar, imminent U.S. rate hike](https://feedsoft.ai/events/41758-gold-hits-lowest-level-in-more-than-2-months-on-lofty-dollar-imminent-u-s-rate.md) | +0.1% | -0.4% |
| DXY | 2022-11-18 | [Gold falls on Fed rate hike prospects, on track for weekly dip \| Reuters](https://feedsoft.ai/events/38592-gold-falls-on-fed-rate-hike-prospects-on-track-for-weekly-dip-reuters.md) | -0.5% | -1.1% |
| DXY | 2018-03-01 | [Gold slips to two-month low on US rate expectations](https://feedsoft.ai/events/65903-gold-slips-to-two-month-low-on-us-rate-expectations.md) | -0.1% | -0.8% |
| DXY | 2021-10-25 | [Dollar rises from one-month low on prospect of higher interest rates \| Reuters](https://feedsoft.ai/events/7163-dollar-rises-from-one-month-low-on-prospect-of-higher-interest-rates-reuters.md) | +0.4% | +1.7% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/gold-listless-debt-ceiling-talks-show-no-progress-2023-05-25/

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