# Fed policy pivot helps boost gold prices | ING THINK

> ING reports that gold has risen almost 20% since early November, helped by a weaker dollar and bets on smaller Fed rate hikes. The bank has slightly raised its 2023 price outlook, citing the faster-than-expected policy pivot and returning Chinese demand after Beijing ended its zero-Covid strategy.

- Date: 2023-01-25 · published 2023-01-25T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/37702-fed-policy-pivot-helps-boost-gold-prices-ing-think
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker dollar and easing rate expectations support dollar-priced commodities, while China's reopening points to firmer demand for commodities more broadly.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-08-28 | [The Fed and gold: Powell's policy shift affects gold commodity prices](https://feedsoft.ai/events/51523-the-fed-and-gold-powell-s-policy-shift-affects-gold-commodity-prices.md) | -0.5% | +1.0% |
| DXY | 2021-08-24 | [The Commodities Feed: USD provides a boost to the complex \| snaps \| ING THINK](https://feedsoft.ai/events/12116-the-commodities-feed-usd-provides-a-boost-to-the-complex-snaps-ing-think.md) | -0.6% | -0.1% |
| DXY | 2020-08-28 | [Gold surges over 2% on waning dollar, Fed policy shift - The Business Times](https://feedsoft.ai/events/51528-gold-surges-over-2-on-waning-dollar-fed-policy-shift-the-business-times.md) | -0.5% | +1.0% |
| DXY | 2021-04-30 | [Inflation-tolerant Fed will boost commodity prices \| Reuters](https://feedsoft.ai/events/47512-inflation-tolerant-fed-will-boost-commodity-prices-reuters.md) | +0.1% | -0.8% |
| DXY | 2020-09-30 | [Investing amidst a new Fed policy regime](https://feedsoft.ai/events/51286-investing-amidst-a-new-fed-policy-regime.md) | -1.1% | -1.5% |

## Sources

- think.ing.com: https://think.ing.com/articles/fed-policy-pivot-helps-boost-gold-prices/

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