# The Soaring Dollar Crushes The Commodity Rally | Gold Eagle

> Craig Hemke argues that a sharp rally in the US dollar drove a fall in gold and other commodities in late April, after a brief commodity rally the prior week. He contends that the dollar and US interest rates now dominate gold prices more than fundamentals.

- Date: 2018-04-26 · published 2018-04-26T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/65438-the-soaring-dollar-crushes-the-commodity-rally-gold-eagle
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A strong dollar reduces the dollar-denominated value of commodities for overseas buyers, a bearish force for feed grains and oilseeds priced in US dollars.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-08-22 | [Commodity prices down on rising dollar demand](https://feedsoft.ai/events/39941-commodity-prices-down-on-rising-dollar-demand.md) | +0.0% | +1.6% |
| DXY | 2023-10-16 | [The dollar has joined the commodity currency club](https://feedsoft.ai/events/33536-the-dollar-has-joined-the-commodity-currency-club.md) | +0.0% | -0.9% |
| DXY | 2022-09-27 | [Dollar rally, recession fears wreak havoc on commodities](https://feedsoft.ai/events/11908-dollar-rally-recession-fears-wreak-havoc-on-commodities.md) | -1.1% | -0.8% |
| DXY | 2021-02-27 | [Commodity returns plunge the most in months amid stronger dollar](https://feedsoft.ai/events/48541-commodity-returns-plunge-the-most-in-months-amid-stronger-dollar.md) | +0.8% | +0.8% |
| DXY | 2022-11-17 | [Commodities slump as dollar rebounds](https://feedsoft.ai/events/38596-commodities-slump-as-dollar-rebounds.md) | +0.4% | -0.6% |

## Sources

- gold-eagle.com: https://www.gold-eagle.com/article/soaring-dollar-crushes-commodity-rally

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