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Gold fell to a more than one-month low after the Fed raised rates by 75 basis points and Chair Powell said it was premature to consider a pause. The dollar and U.S. Treasury yields rose on the hawkish remarks, with spot gold last down 0.2% near $1,631 an ounce.
A higher-for-longer rate path lifts the dollar and yields, tightening financial conditions and pressuring dollar-denominated commodities. The stronger dollar is a headwind for commodity prices generally.
cnbc.comReutersNov 3, 2022After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
