Gold tests $4,450 as Philly Fed, jobless claims firm rate risk - Kitco AM Report - KITCO
Gold tests $4,450 as Philly Fed, jobless claims firm rate risk - Kitco AM Report - KITCO
Source: KITCO
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DW NOTE
The Philly Fed index and jobless claims confirm what the bond market already priced: no rate cuts in 2026. Gold is down 14.5% from its January peak at $5,318, but the retreat looks like profit-taking, not a structural break — core PCE is still running at 3.3%, oil supply is falling 4.3 million barrels per day, and the fiscal deficit is projected at $1.9 trillion.