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Gold futures reached $1,415.40 an ounce, the highest in nearly six years, before easing to about $1,401. The Fed opened the door to a future rate cut, pushing the 10-year Treasury yield below 2%.
The dollar index fell to around 96.7 from above 97.6 earlier in the week.
Gold strength reflects a weaker dollar and lower yields, a macro driver that does not directly move feed grain prices but signals broader commodity-wide support.
cnbc.comEustance HuangJun 21, 2019After 1,637 past bearish macro events, US Dollar (Broad) 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.
