What moves the gold price the most?

US real yields and the dollar dominate. On the day, US CPI, FOMC decisions and Non-Farm Payrolls produce the largest XAUUSD moves, with central bank buying and ETF flows shaping the longer trend.

Why does gold fall when the dollar rises?

Gold is quoted in dollars, so a stronger dollar makes the same ounce more expensive for non-dollar buyers and usually weighs on the XAUUSD price.

Should I hold gold trades through CPI or FOMC?

Spreads widen and slippage rises sharply around those releases, so stops can be filled far from their level. Many gold traders reduce or flatten exposure into the print rather than rely on a stop.

Gold Macro — The Drivers That Move XAUUSD

Gold is priced against real yields and the US dollar before anything else. When 10-year real yields fall, the opportunity cost of holding a non-yielding metal drops and gold tends to bid; when the dollar strengthens, dollar-priced gold usually faces pressure.

Ranked by typical intraday impact on XAUUSD: US CPI, the FOMC decision and press conference, Non-Farm Payrolls, 10-year real yields and TIPS auctions, dollar index moves, ETF flows, and central bank reserve buying. Geopolitical escalation can override all of them for short periods.

The macro pulse is updated through the week so gold traders can see which release is next, how much room there is before it, and how gold has behaved into similar prints.

This is research, not a recommendation. Positioning into a scheduled release on leveraged gold is where most accounts take avoidable damage.