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Gold and silver traded lower in the week ahead of the FOMC minutes, with gold near $1,310 an ounce. The dollar's trade-weighted rally is cited as the main headwind for precious metals, and a June rate increase is expected.
A firmer dollar on expected rate hikes creates a headwind for dollar-priced commodities, which can weigh on feed grain and oilseed values at the margin.
goldmoney.comAlasdair MacleodMay 4, 2018After 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.
