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Spot gold fell as low as $1,877.18 per ounce, its lowest since Feb. 16, before rebounding to about $1,895.
The dollar index hit five-year highs and markets expected the Fed to raise rates by 50 basis points the following week.
A stronger dollar and higher US yields raise the opportunity cost of holding bullion and weigh on dollar-priced metals; for feed buyers this is a macro currency signal with little direct effect on feed grain supply.
cnbc.comReutersApr 28, 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.
