# Gold set for fourth weekly gain on dovish Federal Reserve stance

> Spot gold fell 0.8% to $1,814.11 an ounce as a stronger dollar reduced its appeal, though it was up 0.3% on the week. Gold had earlier hit a one-month high after Fed Chair Powell reiterated an accommodative stance.

- Date: 2021-07-16 · published 2021-07-16T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/45975-gold-set-for-fourth-weekly-gain-on-dovish-federal-reserve-stance
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

This is a precious metals move with little direct bearing on feed grains or protein prices.

## Sources

- cnbc.com: https://www.cnbc.com/2021/07/16/gold-markets-us-federal-reserve-jerome-powell.html

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