Jobless Claim Results Push Greenback Up, Gold Down

The latest jobless-claims results were released, which dropped less than expected. This news pushed the U.S. stock market down, and the U.S. Dollar Index up. The greenback has rallied to well above the 78.8 level, indicating that the preferred destination for the safe-haven and/or bearish trade is still "King Dollar."

After rising from about $1,089 to about $1,095 in the 9-9:30 AM ET time period, gold has pulled back to below $1,090. Despite that pullback, the Kitco Gold Index still shows a gain ex-greenback.


According to this Marketwatch note, gold initially stayed up right after the number was released. So did the stock market, which didn't reverse direction until shortly after opening.