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Gold fell to a nine-month low as a stronger dollar weighed on it. Fed minutes showed officials favoring another 50 or 75 basis point increase later in July.
Expectations of further aggressive Fed hikes keep the dollar firm, which adds pressure to dollar-denominated commodity prices.
reuters.comAshitha ShivaprasadJul 6, 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.
