# Gold broods over Fed's higher-for-longer rate hike stance

> Spot gold fell about 1.2% to $1,785.36 an ounce on December 15 after the Fed signaled that rates would stay higher for longer. The dollar advanced on the hawkish message, and gold had briefly dropped as much as 2%. The European Central Bank and Bank of England also raised rates by half a point.

- Date: 2022-12-15 · published 2022-12-15T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/38157-gold-broods-over-fed-s-higher-for-longer-rate-hike-stance
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Gold is a non-yielding asset, so higher rates and a firmer dollar weigh on it. The move reflects broader rate and currency pressure rather than any agricultural supply change.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-09-21 | [Gold retreats on Fed's higher-for-longer stance](https://feedsoft.ai/events/34007-gold-retreats-on-fed-s-higher-for-longer-stance.md) | +1.7% | +2.3% |
| DXY | 2018-11-10 | [Gold falls to one-month low as Fed affirms rate-hiking stance](https://feedsoft.ai/events/61962-gold-falls-to-one-month-low-as-fed-affirms-rate-hiking-stance.md) | -0.4% | -0.2% |
| DXY | 2023-10-11 | [Brazil: How higher for how longer? – Rabobank — Octa](https://feedsoft.ai/events/33833-brazil-how-higher-for-how-longer-rabobank-octa.md) | +0.2% | -0.7% |
| DXY | 2023-09-20 | [Oil prices ease 1% after US Fed warns of higher rates for longer](https://feedsoft.ai/events/34005-oil-prices-ease-1-after-us-fed-warns-of-higher-rates-for-longer.md) | +1.1% | +2.2% |
| DXY | 2021-06-16 | [Gold slides over 1% after Fed projects rate hikes into 2023](https://feedsoft.ai/events/46487-gold-slides-over-1-after-fed-projects-rate-hikes-into-2023.md) | +1.4% | +1.4% |

## Sources

- cnbc.com: https://www.cnbc.com/2022/12/15/gold-markets-federal-reserve-interest-rates.html

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