Spot gold fell 3.5% on Friday, dropping below $4,000 an ounce to a low of $3,880, its lowest in 12 months, before rebounding by more than $80 the following Monday. Commentators pointed to a sharp tech-stock sell-off, with the Nasdaq down 2.9%, as a likely trigger for forced liquidity selling of gold.
Gold is not a feed commodity, so the direct impact on feed buyers is small; the broader signal is that rate-hike expectations and an oil-driven inflation scare are tightening financial conditions across commodities.
After 4,478 past macro events, US Dollar (Broad) moved a median +0.0% over 5 sessions (51% higher; middle half -0.4% to +0.5%), and +0.1% 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.