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Gold futures held near $1,950 an ounce, close to seven-week highs, after the Federal Reserve kept its policy rate at 0-0.25% and pledged to keep supporting the economy. The dollar was weaker on the day as risk appetite improved.
Near-zero rates and a softer dollar support commodity prices broadly, but gold is not a feed ingredient and the move gives no direct signal for feed grains or protein.
octaafrica.netNov 5, 2020After 1,637 past bearish macro events, DXY 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.
