
Gold fell to its lowest level in more than a year after hotter-than-expected October CPI data, surging Treasury yields and more hawkish Federal Reserve expectations overwhelmed an early recovery driven by lower oil prices and a weaker dollar.
Hawkish Fed expectations and higher yields strengthen the dollar and raise financing costs, which weighs on commodity prices broadly and can shift investor flows across futures markets including feed grains.
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.