# Precious Metals: The dollar giveth, the dollar taketh away | snaps | ING THINK

> Strong US January jobs data, with wages up 2.9% year-on-year, fed expectations of higher inflation and more rate hikes. Equity markets then sold off sharply while gold held relatively steady.

- Date: 2018-02-07 · published 2018-02-07T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/66408-precious-metals-the-dollar-giveth-the-dollar-taketh-away-snaps-ing-think
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Rising inflation and rate expectations are a macro backdrop that pressures precious metals more than feed commodities.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-01-29 | [G10 FX Week Ahead: State of the dollar \| ING THINK](https://feedsoft.ai/events/67209-g10-fx-week-ahead-state-of-the-dollar-ing-think.md) | +0.4% | +1.0% |
| DXY | 2018-06-26 | [For the US dollar, the only way is not up \| articles \| ING THINK](https://feedsoft.ai/events/64713-for-the-us-dollar-the-only-way-is-not-up-articles-ing-think.md) | +0.8% | -0.1% |
| DXY | 2024-01-24 | [FX Daily: Unwinding the spurious dollar rally \| articles \| ING THINK](https://feedsoft.ai/events/32330-fx-daily-unwinding-the-spurious-dollar-rally-articles-ing-think.md) | -0.4% | -0.1% |
| DXY | 2025-04-16 | [G10 FX Talking: The medium-term dollar bear trend develops \| articles \| ING THINK](https://feedsoft.ai/events/7250-g10-fx-talking-the-medium-term-dollar-bear-trend-develops-articles-ing-think.md) | -1.1% | -0.7% |
| DXY | 2023-07-14 | [FX Talking July: The dollar’s break point \| reports \| ING THINK](https://feedsoft.ai/events/9981-fx-talking-july-the-dollar-s-break-point-reports-ing-think.md) | +0.4% | +1.7% |

## Sources

- think.ing.com: https://think.ing.com/snaps/precious-metals-the-dollar-giveth-the-dollar-taketh-away/

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