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Spot gold rose 0.5% to $1,752.41 an ounce after the Federal Reserve kept rates unchanged and pledged near-zero rates through at least 2023. The dollar index fell 0.5% to 91.405, and silver, platinum and palladium also gained.
Lower rates and a weaker dollar reduce the opportunity cost of holding bullion and lift dollar-denominated metal prices. This is a macro move with little direct effect on feed grain or livestock prices.
brecorder.comReutersMar 18, 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.
