Loading…
Gold rose after the Fed ruled out interest rate increases for some time because of the COVID-19 economic outlook. The Fed also said it was deploying its lending powers.
Copper and iron ore were also strong in the same market update.
This is a precious metals move driven by monetary policy, with little direct effect on feed grains or protein. It mainly signals a softer dollar backdrop.
miningnews.netKristie BattenJun 10, 2020After 4,478 past macro events, US Dollar (Broad) moved a median +0.0% over 5 sessions (51% higher; middle half -0.4% to +0.5%), and +0.1% 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.
