Amillex Daily Market Review | Rising Inflation Concerns Put Pressure on Gold

On March 6, 2026, global financial markets experienced sharp volatility as complex macroeconomic forces continued to shape investor sentiment. During Thursday’s U.S. trading session, a surge in energy costs reignited concerns about a potential rebound in inflation. U.S. crude oil prices jumped nearly 4% in a single day, climbing back to around $79.25 per barrel.

This development significantly weakened market expectations for near-term Federal Reserve rate cuts, while the U.S. Dollar Index strengthened by 0.5%. Under the pressure of multiple negative factors, spot gold faced heavy selling, dropping sharply from the intraday high of $5,194.59 to around $5,086 per ounce.

Looking ahead, the short-term narrative for the precious metals market has shifted from pure risk sentiment to a deeper tug-of-war between inflation pressure and interest rate expectations. Market attention is now firmly focused on the upcoming U.S. February employment report.

Market Performance & Fundamental Analysis

1. U.S. Stock Market

インデックスパフォーマンス

ダウ・ジョーンズ工業株平均（DJI）： 閉店時間 47,954.74、下 1.61% on the day.
S&P 500（SP500）： 閉店時間 6,837.41、上 0.24%. The index showed resilience above the 6,800 level, although performance among constituent stocks remained highly mixed.
ナスダック100（NQ1）： 閉店時間 25,073.25、上 0.09%. Technology stocks are currently trading in a high-level consolidation phase as markets price in the potential impact of upcoming inflation data on valuations.

株式ハイライト

テスラ（TSLA）： 閉店時間 $405.55、下 0.10%. With policy clarity and global demand variables still being digested by the market, the stock currently lacks strong momentum for a decisive breakout.

2. 外国為替市場

米ドル指数（DXY）： Currently at 99.061、上 0.29% on the day. A more hawkish tone from the Federal Reserve has led markets to revise rate-cut expectations, supporting the dollar around the 99 level.
米ドル/円: Trading at 157.505、下 0.03%. The pair remains range-bound around the 157 level amid ongoing speculation about the Bank of Japan’s potential policy normalization.
ユーロ/米ドル: Trading at 1.16094, slightly up 0.01%. The euro remains relatively weak against the stronger U.S. dollar, with fundamentals constrained by the slow pace of economic recovery in Europe.

3. 貴金属・コモディティ

貴金属

スポットゴールド（XAUUSD）： Trading around $5,084.85 per ounce、上 0.07% on the day. Gold continues to show strong resilience despite recent selling pressure.
スポットシルバー（XAGUSD）： Trading at $82.98 per ounce、上 0.90%. Silver is showing stronger momentum than gold, supported by both industrial demand and safe-haven buying, keeping prices firmly above the $80 level.

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原油（XTIUSD）： Trading at $78.98 per barrel、上 0.03%. Oil prices are currently consolidating just below the $79 level.

4. 暗号資産とマクロ経済動向

ビットコイン（BTCUSD）： Trading at $70,929、上 0.05% on the day. Bitcoin remains in a low-volume consolidation above the $70,000 level, reflecting a cautious stance from institutional investors amid tightening global liquidity.
イーサリアム（ETHUSD）： Trading at $2,070.8、下 0.12%. Ethereum continues to underperform Bitcoin, as investors favor assets perceived as more reliable stores of value.

5. 今日の焦点

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