# Gold dips as dollar gains on sharp rate-hike bets after U.S. CPI data

> Gold fell more than 1% to $1,703 an ounce after higher-than-expected US August consumer prices strengthened bets on aggressive Fed rate hikes. The dollar index rose 1%, and silver also declined.

- Date: 2022-09-13 · published 2022-09-13T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/39499-gold-dips-as-dollar-gains-on-sharp-rate-hike-bets-after-u-s-cpi-data
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Higher US inflation and a firmer dollar raise the opportunity cost of holding bullion and make dollar-priced commodities dearer for overseas buyers.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2017-02-15 | [Gold dips after Yellen rate hike hints lift dollar](https://feedsoft.ai/events/72390-gold-dips-after-yellen-rate-hike-hints-lift-dollar.md) | -0.2% | -0.0% |
| DXY | 2024-04-18 | [US dollar gains after strong data, Fed comments on rate cuts](https://feedsoft.ai/events/12555-us-dollar-gains-after-strong-data-fed-comments-on-rate-cuts.md) | -0.1% | -1.4% |
| DXY | 2022-10-27 | [Euro falls against the dollar after ECB rate hike, U.S. data](https://feedsoft.ai/events/39360-euro-falls-against-the-dollar-after-ecb-rate-hike-u-s-data.md) | +0.7% | -2.5% |
| DXY | 2022-10-28 | [Gold down 1% as dollar, yields rise on Fed rate-hike bets](https://feedsoft.ai/events/39036-gold-down-1-as-dollar-yields-rise-on-fed-rate-hike-bets.md) | +1.2% | -2.4% |
| DXY | 2019-10-31 | [Gold gains as dollar weakens after Fed's interest rate cut](https://feedsoft.ai/events/56483-gold-gains-as-dollar-weakens-after-fed-s-interest-rate-cut.md) | -0.1% | +0.8% |

## Sources

- cnbc.com: https://www.cnbc.com/2022/09/13/gold-markets-inflation-federal-reserve-interest-rates.html

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