# Dollar rally saps gold's appeal as more Fed hikes loom

> 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.

- Date: 2022-07-06 · published 2022-07-06T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/40394-dollar-rally-saps-gold-s-appeal-as-more-fed-hikes-loom
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations of further aggressive Fed hikes keep the dollar firm, which adds pressure to dollar-denominated commodity prices.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-06-13 | [Dollar mostly firmer as Fed sees more U.S. rate hikes \| Reuters](https://feedsoft.ai/events/64708-dollar-mostly-firmer-as-fed-sees-more-u-s-rate-hikes-reuters.md) | +1.3% | +0.6% |
| DXY | 2016-12-16 | [Dollar near 14-year highs after Fed tips more rate hikes](https://feedsoft.ai/events/6461-dollar-near-14-year-highs-after-fed-tips-more-rate-hikes.md) | +0.0% | -1.3% |
| DXY | 2023-06-14 | [US dollar falls, but off four-week lows, as Fed signals more rate hikes \| Reuters](https://feedsoft.ai/events/35412-us-dollar-falls-but-off-four-week-lows-as-fed-signals-more-rate-hikes-reuters.md) | -0.4% | -1.7% |
| DXY | 2022-09-21 | [U.S. dollar soars to two-decade high as Fed flags more large hikes \| Reuters](https://feedsoft.ai/events/8605-u-s-dollar-soars-to-two-decade-high-as-fed-flags-more-large-hikes-reuters.md) | +2.6% | +2.6% |
| DXY | 2024-06-07 | [Dollar Rallies and Gold Sinks as Fed Rate Cut Hopes Recede](https://feedsoft.ai/events/8477-dollar-rallies-and-gold-sinks-as-fed-rate-cut-hopes-recede.md) | +1.4% | +0.8% |

## Sources

- reuters.com: https://www.reuters.com/markets/europe/dollar-rally-saps-golds-appeal-more-fed-hikes-loom-2022-07-06/

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