◂ Event Timeline

Nov 7, 2017MACROUS

Fed and The Dollar Drive Short-Term Pullback on Gold

Gold consolidated after an early-September high as rising US rate expectations and a stronger dollar pushed prices lower. Markets were pricing almost a full 25-basis-point hike in December after Trump nominated Jerome Powell as Fed chair.

WHY IT MATTERS

Higher rate expectations and dollar strength reduce demand for gold and lift the cost of dollar-denominated commodities. The price signal for feed buyers is indirect.

AFFECTSUS Dollar (Broad)▲

SOURCE
goldbroker.comLaurent MaurelNov 7, 2017

Price reaction & history

US Dollar (Broad)▲bullishSO FAR1d +0.2%5d -0.2%20d -0.8%

After 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.

Sep 29, 2026Fed Rate Hike Bets and US Bond Rout Bolster the Dollar, Hurt Equities and Gold | Investing.com+0.5%
Nov 28, 2018Gold markets: The Fed, dollar in focus-0.8%
Aug 27, 2020Gold dives 2% as dollar, yields gain after Fed comments-0.5%
Jan 29, 2025Gold dips as dollar, yields climb after Fed stands pat on rates | Reuters-0.1%
May 26, 2023Hard to short the dollar at 5% yield | Convera-0.7%

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.

US Dollar (Broad) DXY · GP ▸

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