Gold futures rallied following a stall in the U.S. dollar.

Gold futures saw a significant bounce during the session, gapping higher and reaching a peak of 5019'10. This recovery comes as the U.S. dollar rally, which began in late January, showed signs of stalling against most major currencies. Market participants are currently debating the implications of the Kevin Warsh nomination for the Federal Reserve. While his historical reputation leans hawkish, analysts are considering his recent openness to data-dependent rate cuts and the ongoing U.S. fiscal situation. The Japanese yen remained an outlier in the currency space following an unimpressive 10-Year JGB auction result.