# Gold gains amid dovish tones from Fed — Breakwave Advisors

> Gold gained on March 23 as the dollar weakened and Treasury yields fell after the Fed's 25-basis-point hike. Crude oil also rose on strong US export and gasoline demand signals and a narrowing Brent-Dubai spread, and copper led base metals higher.

- Date: 2023-03-23 · published 2023-03-23T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/36779-gold-gains-amid-dovish-tones-from-fed-breakwave-advisors
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A softer dollar and firmer energy prices can lift feed input costs, including fuel and freight. The gains were driven mainly by macro sentiment rather than grain supply changes.

## Read by commodity

- DXY: bearish ▼
- WTI: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-03-31 | [Dovish Fed Repricing Favors Gold - ADM Investor Services](https://feedsoft.ai/events/20071-dovish-fed-repricing-favors-gold-adm-investor-services.md) | +9.6% | -1.7% |
| WTI | 2021-10-26 | [C$ dips as investors guard against 'dovish surprise' from BoC \| Financial Post](https://feedsoft.ai/events/44821-c-dips-as-investors-guard-against-dovish-surprise-from-boc-financial-post.md) | -0.3% | -9.0% |
| WTI | 2019-03-01 | [WCU Gold lifted by Fed dove while oil pauses \| Saxo](https://feedsoft.ai/events/59993-wcu-gold-lifted-by-fed-dove-while-oil-pauses-saxo.md) | -1.0% | +3.6% |
| WTI | 2024-02-21 | [Copper, gold to get 'largest immediate' boost from Fed easing, Goldman says \| Reuters](https://feedsoft.ai/events/31571-copper-gold-to-get-largest-immediate-boost-from-fed-easing-goldman-says-reuters.md) | +1.2% | +7.1% |
| WTI | 2021-07-28 | [Canadian dollar gains as Fed readies new money market facilities - The Globe and Mail](https://feedsoft.ai/events/46270-canadian-dollar-gains-as-fed-readies-new-money-market-facilities-the-globe-and.md) | -1.5% | -5.8% |
| DXY | 2020-06-08 | [Gold gains as investors bet on dovish signals from Fed - Markets - Business Recorder](https://feedsoft.ai/events/52529-gold-gains-as-investors-bet-on-dovish-signals-from-fed-markets-business-recorder.md) | +0.7% | +0.4% |
| DXY | 2019-01-11 | [Gold shines on weak dollar, Fed chief's dovish tone on rate hike](https://feedsoft.ai/events/61008-gold-shines-on-weak-dollar-fed-chief-s-dovish-tone-on-rate-hike.md) | +0.4% | +0.9% |
| DXY | 2026-03-31 | [Dovish Fed Repricing Favors Gold - ADM Investor Services](https://feedsoft.ai/events/20071-dovish-fed-repricing-favors-gold-adm-investor-services.md) | -0.7% | -2.3% |

## Sources

- breakwaveadvisors.com: https://www.breakwaveadvisors.com/insights/2023/3/23/gold-gains-amid-dovish-tones-from-fed

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