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Spot gold rose 1.4% to $1,817.21 per ounce after Powell gave no timeline for tapering and stressed patience on inflation. Traders said the Fed was unlikely to announce tapering before September or November.
Gold moves reflect Fed policy expectations and dollar direction, which spill over into broader commodity pricing but have limited direct effect on feed markets.
cnbc.comReutersAug 27, 2021After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
