Gold gains more than 1% as softer oil prices ease inflation worries

After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.

• Dec 12, 2023U.S. crude oil falls more than 3% on inflation worries+1.7%
• Oct 14, 2022Oil prices fall more than 3% on recession worries-3.8%
• Dec 20, 2018Oil prices tumble to lowest in more than a year as equities sell off-6.7%
• Mar 14, 2023Oil falls to three-month low on inflation worries, U.S. bank shutdowns-9.5%
• May 30, 2023Canadian dollar dips as oil prices fall more than 4%-0.4%

After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% over 20.

• Dec 12, 2023U.S. crude oil falls more than 3% on inflation worries+3.3%
• Oct 14, 2022Oil prices fall more than 3% on recession worries-3.1%
• Dec 20, 2018Oil prices tumble to lowest in more than a year as equities sell off-8.1%
• Mar 14, 2023Oil falls to three-month low on inflation worries, U.S. bank shutdowns-8.9%
• Sep 18, 2026Ringgit opens higher against US dollar as oil prices ease | The Star-0.3%

After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.

• Jul 12, 2023US dollar stumbles, drops to more than one-year low as inflation eases in June-1.4%
• Nov 10, 2022Oil prices settle 1% higher on tepid U.S. inflation data | Reuters-1.6%
• Nov 10, 2022U.S. inflation turning the corner as consumer prices rise below expectations-1.6%
• Jul 30, 2026Gold rises on weaker U.S. dollar, soft inflation data-1.2%
• Sep 30, 2022Dollar gains on euro after inflation data, sterling falls-0.2%