
Gold fell to a fresh yearly low as markets fully priced in a December Fed rate hike after core CPI rose 0.3% against a 0.2% forecast. The Dollar Index reached about 103.10, its highest since April 2025, and US equities also slid.
Expectations of tighter US policy are lifting the dollar, which weighs on US agricultural export competitiveness and can pressure grain and oilseed prices. Higher rates also raise the cost of carrying feed inventories.
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.