# Gold slides after Fed's Powell confirms gradual rate hikes

> Gold fell more than 1% after Fed Chair Jerome Powell told Congress that gradual rate hikes should continue despite tax cuts and spending. The dollar index rose to its highest in over two weeks following the remarks.

- Date: 2018-02-27 · published 2018-02-27T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/66405-gold-slides-after-fed-s-powell-confirms-gradual-rate-hikes
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Higher US rate expectations and a stronger dollar reduce gold's appeal, a macro-driven move with limited direct feed impact.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2017-01-19 | [Gold under pressure as Fed's Yellen backs gradual rate hikes \| Reuters](https://feedsoft.ai/events/72903-gold-under-pressure-as-fed-s-yellen-backs-gradual-rate-hikes-reuters.md) | -0.4% | -1.5% |
| DXY | 2023-08-25 | [Gold drops after Powell leaves door open to more rate hikes](https://feedsoft.ai/events/34484-gold-drops-after-powell-leaves-door-open-to-more-rate-hikes.md) | -0.0% | +1.1% |
| DXY | 2018-06-13 | [Gold erases gains after Fed hikes interest rates](https://feedsoft.ai/events/64440-gold-erases-gains-after-fed-hikes-interest-rates.md) | +1.3% | +0.6% |
| DXY | 2023-06-29 | [Gold hits 3-mth low, copper slips as Powell flags more rate hikes By Investing.com](https://feedsoft.ai/events/35416-gold-hits-3-mth-low-copper-slips-as-powell-flags-more-rate-hikes-by-investing.md) | +0.4% | -1.2% |

## Sources

- cnbc.com: https://www.cnbc.com/2018/02/26/gold-markets-focus-on-softer-dollar.html

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