# Gold under pressure as Fed's Yellen backs gradual rate hikes | Reuters

> Spot gold slipped 0.1 percent to $1,202 an ounce after Fed Chair Janet Yellen said it made sense to lift US interest rates gradually. The dollar index rose 0.3 percent to 101.23, and gold had earlier hit an eight-week high of $1,218.64 on Tuesday.

- Date: 2017-01-19 · published 2017-01-19T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/72903-gold-under-pressure-as-fed-s-yellen-backs-gradual-rate-hikes-reuters
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer dollar and higher expected US rates make dollar-priced commodities more expensive for foreign buyers, which weighs on commodity prices. The effect on feed-grain prices is indirect.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-02-27 | [Gold slides after Fed's Powell confirms gradual rate hikes](https://feedsoft.ai/events/66405-gold-slides-after-fed-s-powell-confirms-gradual-rate-hikes.md) | +0.1% | -0.1% |
| DXY | 2018-06-13 | [Dollar mostly firmer as Fed sees more U.S. rate hikes \| Reuters](https://feedsoft.ai/events/64708-dollar-mostly-firmer-as-fed-sees-more-u-s-rate-hikes-reuters.md) | +1.3% | +0.6% |
| DXY | 2017-01-19 | [S.Korean won falls as Yellen signals rate hike; stocks edge up \| Reuters](https://feedsoft.ai/events/73205-s-korean-won-falls-as-yellen-signals-rate-hike-stocks-edge-up-reuters.md) | -0.4% | -1.5% |
| DXY | 2022-01-17 | [Dollar edges up as traders assess Fed rate hike bets \| Reuters](https://feedsoft.ai/events/43326-dollar-edges-up-as-traders-assess-fed-rate-hike-bets-reuters.md) | +0.7% | +0.7% |
| DXY | 2017-01-19 | [Stocks, currencies fall after Fed's Yellen signals rate hikes](https://feedsoft.ai/events/11875-stocks-currencies-fall-after-fed-s-yellen-signals-rate-hikes.md) | -0.4% | -1.5% |

## Sources

- reuters.com: https://www.reuters.com/article/markets/commodities/gold-under-pressure-as-feds-yellen-backs-gradual-rate-hikes-idUSL4N1F91IL/

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