# Gold soars 2% as Fed rate hike slowdown prospects hit dollar | Reuters

> Gold rose 2% on December 1 to move above $1,800 an ounce as the dollar weakened. Traders priced a 91% chance that the Fed would raise rates by 50 basis points on December 14. Signs of cooling U.S. inflation supported the move.

- Date: 2022-12-01 · published 2022-12-01T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/38159-gold-soars-2-as-fed-rate-hike-slowdown-prospects-hit-dollar-reuters
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker dollar and expectations of slower Fed hikes ease pressure on dollar-priced commodities, which can support feed ingredient prices. The gain was driven by currency and rate expectations.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-07-29 | [Dollar slips as Fed holds rates steady \| Reuters](https://feedsoft.ai/events/8418-dollar-slips-as-fed-holds-rates-steady-reuters.md) | -0.9% | -2.0% |
| DXY | 2022-05-23 | [Euro climbs as ECB eyes rate hikes, dollar slides \| Reuters](https://feedsoft.ai/events/12687-euro-climbs-as-ecb-eyes-rate-hikes-dollar-slides-reuters.md) | -0.9% | +1.1% |
| DXY | 2024-08-19 | [Sterling hits one-month high as Fed rate cut bets weigh on dollar \| Reuters](https://feedsoft.ai/events/29068-sterling-hits-one-month-high-as-fed-rate-cut-bets-weigh-on-dollar-reuters.md) | -0.8% | -0.7% |
| DXY | 2022-12-07 | [Gold jumps 1% as U.S. dollar, yields slip on Fed slowdown bets](https://feedsoft.ai/events/38161-gold-jumps-1-as-u-s-dollar-yields-slip-on-fed-slowdown-bets.md) | -1.0% | -0.7% |
| DXY | 2023-11-24 | [Gold leaps above $2,000 as dollar weakens on Fed pause bets \| Reuters](https://feedsoft.ai/events/33076-gold-leaps-above-2-000-as-dollar-weakens-on-fed-pause-bets-reuters.md) | -0.4% | -1.1% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/gold-scales-2-week-high-hopes-smaller-us-rate-hikes-2022-12-01/

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