USD strengthens, gold dips, and payroll data hits markets.
On Thursday, amid the stirring of new news unrelated to taxes, the market was hoping for Friday's non farm payroll data, and the US dollar index rebounded slightly. After being named by the US Treasury Secretary, it briefly fell and ultimately closed up 0.08% at 107.7. US Treasury yields collectively rose, with 2-year yields closing at 4.21% and 10-year yields closing at 4.44%.
Gold prices fell 1% to around $2834.08 per ounce on Thursday as the US dollar rebounded ahead of the release of a key employment report and investors took profits. The previous five trading days saw gold prices reach record highs due to the escalation of trade tensions between China and the United States. However, gold prices were still supported by bargain hunting, and the decline in gold prices narrowed at the end of Thursday, closing around $2855.81 per ounce.
Affected by Trump's remarks on increasing production, oil prices turned lower, with WTI crude oil closing down 0.82% at $70.32 per barrel; Brent crude oil closed down 0.57% at $74.81 per barrel.
What the aggressive growth of gold indicates
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