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Gold Apr '24 (GCJ24)

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Gold Futures Market News and Commentary

Dollar Weakens on Strength in the Chinese Yuan

The dollar index (DXY00) is down by -0.16% today.  The dollar is modestly lower today, consolidating below last Friday’s 2-week high.  Today’s rally in the Chinese yuan to a 3.5-year high is undercutting the dollar.

However, losses in the dollar are limited today as WTI crude oil climbs more than +2% to a 1-week high, which raises inflation expectations and could potentially persuade the Fed to raise interest rates, a supportive factor for the dollar.  Also, weaker stocks today have boosted some liquidity demand for the dollar, and higher T-note yields have strengthened the dollar’s interest rate differentials.  Finally, the dollar has some carryover support from last Friday, when Fed Chair Warsh warned inflation isn’t meaningfully slowing and vowed that policymakers will return inflation to their 2% target.   The chance of a Fed rate hike at next month’s FOMC meeting rose to 63% today from 36% before Warsh’s speech. 

Chinese economic news was mixed after China's Aug man... Read more

US dollar and Yuan banknote on USA and China flags by Dilok Klaisataporn via iStock
Dollar Weakens on Strength in the Chinese Yuan

The dollar index (DXY00 ) is down by -0.16% today. The dollar is modestly lower today, consolidating below last Friday’s 2-week high. Today’s rally...

Silver bullion by SonerCdem via iStock
Gold Holds 100 DMA After Selloff! Silver $67, Hike Odds Jump to 62% | Metals Minute Phil Streible

Dive into today's market action with the Blue Line Futures Metals Minute! (Episode 735)

Commodities on laptop keyboard by Maxx-Studio via Shutterstock
Was the Commodity Complex a Case of More of the Same Monday?

A look at the headlines Monday morning gives us more fighting in the Middle East, threats in Europe, and continuing debate over Chairman Warsh's comments....

Silver bullion by SonerCdem via iStock
Gold Silver Selloff: Should You Buy the Dip After Warsh Jackson Hole? | Metals Minute Phil Streible

Dive into today's market action with the Blue Line Futures Metals Minute! (Episode 734)

Image by allstars via Shutterstock
Hawkish Fed Chair Warsh Boosts the Dollar and Sinks Gold

The dollar index (DXY00 ) rallied to a 2-week high on Friday and finished up by +0.61%. The dollar jumped on Friday on hawkish comments from Fed Chair...

Copper wires by Lukasz Klepaczewski via Pixabay
Is Copper Going to Trade $7 per Pound?

COMEX copper futures have reached another new record high in August 2026. However, LME three-month copper forwards have remained below their January 2026...

Sugar Prices Supported by the Outlook for a Global Deficit

October NY world sugar #11 (SBV26 ) is up +0.23 (+1.31%) today, and October London ICE white sugar #5 (SWV26 ) is not trading, with markets closed today...

Why Now Could Be the Right Time to Buy Super Micro Computer Stock

Super Micro Computer enters FY27 with strong business momentum, supported by robust AI infrastructure demand.

West African Cocoa Crop Concerns Underpin Prices

December ICE NY cocoa (CCZ26 ) is up +106 (+1.59%) today, and September ICE London cocoa #7 (CAU26 ) is not trading, with markets in the UK closed today...

Nvidia Projects 70% Revenue Growth Next Year. What This Means for NVDA Stock Investors.

The projection reflects that demand is going nowhere. It does show, however, that NVDA stock still has plenty of room to run.

A $4 Billion Reason to Buy the Recent Dip in IREN Stock Today

IREN stock sank on Friday on a Q2 net loss and rising capital expenditures. But there are ample reasons for long-term investors to stick with IREN shares....

A $3.5 Trillion Reason to Buy SpaceX Stock Today

Elon Musk believes SpaceX’s revenue will hit $3.5 trillion by 2033. But does that warrant buying SPCX shares today?

Arabica Coffee Consolidates Recent Losses

December arabica coffee (KCZ26 ) is down -0.30 (-0.10%) today, and November ICE robusta coffee (RMX26 ) is not trading today, with markets closed in the...

Say No to Tokenmaxxing. How Alex Karp’s War on the ‘Token Industrial Complex’ Is Fueling the Next NVDA and PLTR Bull Run.

The outspoken Palantir CEO believes his company, together with Nvidia, adds real value and everything in between is not worth investing in.

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