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Spot gold fell 0.4% to $3,973.13 an ounce on Thursday, extending the previous session's losses. Persistent inflation and hawkish Federal Reserve commentary pushed markets to fully price in a December 25-basis-point rate increase, with some investors considering 50 basis points.
The US dollar index edged up 0.1% to 102.98.
Higher rate expectations and a stronger dollar raise the cost of dollar-priced commodities for importers and weigh on the broader commodity complex. Gold itself is not a feed input, so the direct effect on feed prices is limited.
ng.investing.comRoushni NairNov 12, 2026After 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.
