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Commentary notes that rising U.S. interest rates relative to other economies have lifted the dollar, weighing on gold. Copper miners have outperformed gold miners, tracking a three-year high in copper prices.
A stronger dollar and rising U.S. yields are the main macro drivers in this piece, and they tend to pressure dollar-priced commodities. The industrial metals strength reflects global growth, which is a separate factor.
articles.stockcharts.comJohn MurphyOct 20, 2017After 2,356 past bullish macro events, DXY 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.
