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Gold dropped to a two-week low after the Fed cut rates by 25 basis points but signaled no lengthy easing cycle, lifting the dollar to a two-year high. Spot gold fell to its lowest level since July 17 before paring losses.
A stronger dollar makes dollar-priced commodities costlier for overseas buyers, which tends to weigh on US export demand for feed ingredients. The move reflects the policy outlook rather than a change in physical supply.
zeebiz.comReutersAug 1, 2019After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
