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Metals fell as the US dollar strengthened, with Comex gold trading near $1,305 an ounce after dropping to $1,302.30. Markets expected the Fed to hold rates steady at its upcoming meeting.
Dollar strength is the key driver of weakness in dollar-denominated commodities, which can pressure feed grain and protein prices at the margin.
miningnews.netKristie BattenMay 1, 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.
