# Gold surges over 2% on waning dollar, Fed policy shift - The Business Times

> Spot gold rebounded more than 2% to $1,964.47 an ounce on Friday as the dollar fell to a more than one-week low. The Fed signalled it would keep rates low and allow inflation to run above target for some time.

- Date: 2020-08-28 · published 2020-08-28T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/51528-gold-surges-over-2-on-waning-dollar-fed-policy-shift-the-business-times
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker dollar and expected low rates support gold, but this is a precious-metals move with no direct effect on feed grains or protein. It is background sentiment only.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2017-12-13 | [Gold jumps 1% as dollar slips on Fed rate outlook - The Business Times](https://feedsoft.ai/events/67390-gold-jumps-1-as-dollar-slips-on-fed-rate-outlook-the-business-times.md) | -0.4% | -1.8% |
| DXY | 2023-08-28 | [US dollar eases versus euro as investors ponder Fed, ECB rate paths  - The Business Times](https://feedsoft.ai/events/34786-us-dollar-eases-versus-euro-as-investors-ponder-fed-ecb-rate-paths-the-business.md) | +0.2% | +1.3% |
| DXY | 2019-01-11 | [Gold shines on weak dollar, Fed chief's dovish tone on rate hike](https://feedsoft.ai/events/61008-gold-shines-on-weak-dollar-fed-chief-s-dovish-tone-on-rate-hike.md) | +0.4% | +0.9% |
| DXY | 2022-08-30 | [ECB bets boost euro, US dollar slips from 20 year peak - The Business Times](https://feedsoft.ai/events/40248-ecb-bets-boost-euro-us-dollar-slips-from-20-year-peak-the-business-times.md) | +1.1% | +4.0% |
| DXY | 2020-08-28 | [The Fed and gold: Powell's policy shift affects gold commodity prices](https://feedsoft.ai/events/51523-the-fed-and-gold-powell-s-policy-shift-affects-gold-commodity-prices.md) | -0.5% | +1.0% |

## Sources

- businesstimes.com.sg: https://www.businesstimes.com.sg/companies-markets/energy-commodities/gold-surges-over-2-waning-dollar-fed-policy-shift

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