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Spot gold rose 1.7% to about $1,973.52 an ounce on March 22 after the Fed raised rates by 25 basis points and signaled a pause was near. The move followed a Fed statement that toned down its approach to inflation amid financial market turmoil.
Gold is not a feed commodity, so the direct effect on feed buyers is small. The move reflects the lower-dollar, lower-yield backdrop that also tends to support grain and oilseed prices.
reuters.comBharat Gautam, Seher DareenMar 22, 2023After 4,478 past macro events, DXY moved a median +0.0% over 5 sessions (51% higher; middle half -0.4% to +0.5%), and +0.1% 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.
