Gold Cash (GCY00)
Gold Futures Market News and Commentary
The dollar index (DXY00) rose by +0.23% on Tuesday.  The dollar moved higher on Tuesday as the escalation of hostilities between the US and Iran is boosting crude oil prices, which raises inflation expectations that could prompt the Fed to tighten monetary policy, a supportive factor for the dollar. Higher T-note yields on Tuesday also strengthened the dollar's interest rate differentials. However, Tuesday's rally in stocks has curbed liquidity demand for the dollar, limiting the currency's gains.
The US and Iran exchanged strikes for a 10th consecutive day as mediators sought to revive a truce, with the US targeting military command centers, launch sites and air defenses in Iran and Iran attacking US military sites in Kuwait and Jordan. The UK navy also reported today that Iran struck two vessels around the Strait of Hormuz. President Trump said on Tuesday that the US has "no interest" in meeting with Iran until they are ready for serious peace negotiations.
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