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Gold Mar '26 (GCH26)

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Gold Futures Market News and Commentary

Dollar Rallies as Iran War Boosts Crude Prices and Bond Yields

The dollar index (DXY00) on Thursday rose by +0.43%.  The dollar rallied on Thursday as soaring crude prices boosted T-note yields and strengthened the dollar's interest rate differentials.  Also, Thursday's US economic reports, which showed a smaller-than-expected increase in weekly jobless claims and a larger-than-expected increase in Q4 nonfarm productivity, were supportive of the dollar.  In addition, Thursday's stock sell-off boosted liquidity demand for the dollar.  Gains in the dollar accelerated Thursday on hawkish comments from Richmond Fed President Tom Barkin, who said he expects "a couple of months of high inflation."

US Feb Challenger job cuts fell -71.9% y/y to 48,307.

US weekly initial unemployment claims were unchanged at 213,000, showing a stronger labor market than expectations of 215,000.

Q4 nonfarm productivity rose +2.8%, better than expectations of +1.9%.  Q4 unit labor costs rose by +2.8%, stronger than expectations of +2.0%.

Hawkish co... Read more

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