
Thailand’s domestic gold prices opened 150 baht higher than the previous day, despite a decline of more than 1% in the global gold price. Stronger-than-expected U.S. October payrolls and a lower unemployment rate lifted the dollar and Treasury yields, while markets raised the implied chance of a December Federal Reserve rate hike to 81%.
The stronger dollar and higher rate expectations can weigh on dollar-denominated commodities, while a firmer dollar may raise the cost of imported feed and agricultural inputs for buyers using other currencies.
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.
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.