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Gold Feb '24 (GCG24)

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Gold Futures Market News and Commentary

Dollar Rallies on Solid US Economic News and Soaring Crude Prices

The dollar index (DXY00) rose by +0.26% on Thursday.  The dollar rallied on Thursday amid favorable US economic news. Weekly jobless claims rose less than expected, Q2 nonfarm productivity rose more than expected, and Q2 unit labor costs rose less than expected.  Gains in the dollar accelerated on Thursday after WTI crude oil prices rose more than +2%, raising inflation expectations and a hawkish factor for Fed policy. 

The dollar also found support from Thursday’s Financial Times report that said Fed Chair Warsh is willing to raise interest rates at the September FOMC meeting if inflation firms and market expectations shift further towards tightening in the coming months.

US weekly initial unemployment claims rose by +1,000 to 199,000, showing a stronger labor market than expectations of 205,000.

US Q2 nonfarm productivity rose +1.4%, stronger than expectations of +0.6%.  Q2 unit labor costs rose +1.3%, less than expectations of +2.1%.

The markets are discou... Read more

Stacked silver bars by Tookapic via Pixabay
Gold & Silver Explode Overnight! The Driver No One is Talking About | Metals Minute Phil Streible

Dive into today's market action with the Blue Line Futures Metals Minute! (Episode 718)

Pile of money with hands by Sergey Nazarov via iStock
Dollar Rallies on Solid US Economic News and Soaring Crude Prices

The dollar index (DXY00 ) rose by +0.26% on Thursday. The dollar rallied on Thursday amid favorable US economic news. Weekly jobless claims rose less...

Image by Karolina Kaboompics via Pexels
Dollar Gains on Favorable US Economic News

The dollar index (DXY00 ) is up by +0.17% today. The dollar is moving higher today on some favorable US economic news. Weekly jobless claims rose less...

Silver nuggets and ingot by Mike Maniatis via Shutterstock
Gold & Silver Breakout! Copper Export Ban | Key Levels to Watch | Metals Minute Phil Streible

Metals Minute Phil Streible | Dive into today's market action with the Blue Line Futures Metals Minute! (Episode 717)

A one dollar bill floating in water by Wirestock via iStock
Dollar Slides on Stock Strength and Weakness in US Economic Reports

The dollar index (DXY00 ) fell by -0.17% on Wednesday. The dollar fell on Wednesday after the S&P 500 climbed to a new record high, reducing demand for...

Gold bullion rounded by istara via Pixabay
Gold Breaches 50-Day Moving Average: Real Rally or Bull Trap?

Gold bugs are celebrating another breakout above the trendline and 50-day moving average. However, with the 50-day MA still declining, caution is warranted...

Here’s The Real Reason Wall Street Cut ON Semiconductor Stock’s Price Target

Analysts' price target cuts say more about the semiconductor sector than ON Semiconductor itself.

Are Wall Street Analysts Predicting PepsiCo Stock Will Climb or Sink?

PepsiCo has underperformed the broader market over the past year, and analysts remain moderately optimistic about the stock’s prospects.

Stock Index Futures Gain With All Eyes on Key U.S. Jobs Report

September S&P 500 E-Mini futures (ESU26) are up +0.25%, and September Nasdaq 100 E-Mini futures (NQU26) are up +0.55% this morning, rebounding from yesterday’s...

Are Wall Street Analysts Bullish on Walt Disney Stock?

Walt Disney Company stock has underperformed the broader market over the past year, but analysts remain highly bullish about its prospects.

The Data Center Boom Is Powering Utility Earnings. Here Is My Favorite Way to Play the Trend.

Utility companies are increasingly benefiting from the AI data center boom, and here is my favorite way to gain exposure to this investment theme.

Cotton Posts Modest Strength on Thursday

Cotton futures closed the Thursday session with contracts 12 to 24 points higher across the board. Crude oil was back up $3.01 per barrel, with the US...

Hogs Face Pressure on Thursday, as Pork Prices Fall

Lean hog futures closed the Thursday session with contracts down 95 cents to $1.42. USDA’s national base hog price was reported at $98.30 on Thursday...

Wheat Falls Lower on Thursday

The wheat complex was lower across the three markets on Thursday. Chicago SRW contracts were down 1 1/2 to 11 cents across the board, led by the nearbys....

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