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Zeal Intelligence commentary says the Fed's FOMC decision to begin quantitative tightening in October was a major step after years of QE. The author argues the program will strongly affect stock markets and gold.
Balance-sheet reduction tightens financial conditions and can lift the dollar and pressure precious metals, with spillover to broader commodity prices and feed input costs via currency effects.
After 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.