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Gold did not rally on the Fed's first rate cut in a decade because Chairman Powell described it as a mid-cycle adjustment rather than the start of an easing cycle. The World Gold Council reported first-half gold demand at a three-year high, and prices later rallied past $1,450 after the tariff announcement.
The market reaction shows that rate cuts alone are not driving precious metals higher, so feed-relevant commodity prices are unlikely to respond to the cut on its own.
marketwatch.comMyra P. SaefongAug 1, 2019After 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.
