# Gold erases gains after Fed hikes interest rates

> Gold gave up its early gains on June 13, 2018 after the Federal Reserve raised its benchmark rate by a quarter point. Spot gold traded near $1,294 an ounce while the dollar hit a three-week high against a basket of currencies.

- Date: 2018-06-13 · published 2018-06-13T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/64440-gold-erases-gains-after-fed-hikes-interest-rates
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

The rate hike and firmer dollar reduce the appeal of dollar-priced commodities, so this is a broad headwind for commodity prices rather than a direct feed-market driver.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-08-01 | [Gold pinned lower after Fed announces unchanged interest rates](https://feedsoft.ai/events/63462-gold-pinned-lower-after-fed-announces-unchanged-interest-rates.md) | +0.2% | +0.5% |
| DXY | 2021-06-16 | [Gold slides over 1% after Fed projects rate hikes into 2023](https://feedsoft.ai/events/46487-gold-slides-over-1-after-fed-projects-rate-hikes-into-2023.md) | +1.4% | +1.4% |
| DXY | 2021-06-16 | [Dollar jumps after Fed pulls interest rate hikes into 2023 \| Reuters](https://feedsoft.ai/events/5929-dollar-jumps-after-fed-pulls-interest-rate-hikes-into-2023-reuters.md) | +1.4% | +1.4% |
| DXY | 2018-12-19 | [Gold falls as Fed raises rates, indicates further hikes for 2019](https://feedsoft.ai/events/61491-gold-falls-as-fed-raises-rates-indicates-further-hikes-for-2019.md) | -0.3% | -1.6% |
| DXY | 2016-12-15 | [Dollar charges higher after Fed hikes rates](https://feedsoft.ai/events/6465-dollar-charges-higher-after-fed-hikes-rates.md) | +1.6% | +1.1% |

## Sources

- cnbc.com: https://www.cnbc.com/2018/06/12/gold-markets-fed-decision-in-focus.html

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