# Fed raises interest rates, USD price skyrockets, gold price plummets

> The Fed raised rates by 75 basis points to 3.75-4%, and the dollar index climbed after Chair Powell said borrowing costs would need to rise to fight inflation. Gold fell sharply on the move. The article reports the dollar rally in Vietnamese dong terms.

- Date: 2022-11-04 · published 2022-11-04T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/38983-fed-raises-interest-rates-usd-price-skyrockets-gold-price-plummets
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer dollar from a more hawkish Fed raises the cost of dollar-priced commodities for importers outside the US and can weigh on commodity prices.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-06-13 | [Gold erases gains after Fed hikes interest rates](https://feedsoft.ai/events/64440-gold-erases-gains-after-fed-hikes-interest-rates.md) | +1.3% | +0.6% |
| DXY | 2022-01-27 | [Shocked by the Fed, USD price skyrockets for 5 weeks, gold price drops unstoppable](https://feedsoft.ai/events/43428-shocked-by-the-fed-usd-price-skyrockets-for-5-weeks-gold-price-drops-unstoppable.md) | +0.1% | +0.7% |
| DXY | 2018-08-01 | [Gold pinned lower after Fed announces unchanged interest rates](https://feedsoft.ai/events/63462-gold-pinned-lower-after-fed-announces-unchanged-interest-rates.md) | +0.2% | +0.5% |
| DXY | 2026-03-20 | [US dollar rises after Federal Reserve leaves interest rates unchanged, while gold prices slip \| The Straits Times](https://feedsoft.ai/events/20070-us-dollar-rises-after-federal-reserve-leaves-interest-rates-unchanged-while.md) | +0.2% | -1.5% |
| DXY | 2024-12-19 | [US Interest Rate Stance Pressures Base Metal Prices - Finimize](https://feedsoft.ai/events/26854-us-interest-rate-stance-pressures-base-metal-prices-finimize.md) | +0.5% | +1.4% |

## Sources

- news.laodong.vn: https://news.laodong.vn/tien-te-dau-tu/fed-tang-lai-suat-gia-usd-vut-cao-gia-vang-lao-doc-1112618.ldo

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