
Gold and silver gave back their earlier rebound as hot October CPI, a stronger dollar and rising Treasury yields pushed gold below $4,000. Gold was down about 3.9% and silver about 3.7% for the week through Friday's opening.
Higher rate expectations and a firmer dollar weigh on precious metals and broader commodity prices, reducing the appeal of commodities as an inflation hedge and modestly lowering dollar-priced feed input values.
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.