US dollar index reaches multiweek high as weekly jobless claims figures surprise markets and pressure gold prices
The US dollar index climbed to its highest level since early December after weekly jobless claims unexpectedly fell. This surge pressured gold and other metals.
Insights:
The U.S. Dollar Index reached its highest level since December 2 on Thursday, January 15, 2026, as new applications for unemployment benefits in the United States 
USunexpectedly fell last week. These weaker-than-expected weekly jobless claims figures triggered a sharp rally in the dollar, which in turn pressured the precious metals market. Gold Spot prices declined 0.1% to $4,614.97 per ounce as of 11:10 a.m. ET, following a historic session on Wednesday, January 14, 2026, when bullion hit a record high of $4,642.72.
USunexpectedly fell last week. These weaker-than-expected weekly jobless claims figures triggered a sharp rally in the dollar, which in turn pressured the precious metals market. Gold Spot prices declined 0.1% to $4,614.97 per ounce as of 11:10 a.m. ET, following a historic session on Wednesday, January 14, 2026, when bullion hit a record high of $4,642.72.Additional pressure was seen in the futures market, where Gold Futures for February delivery fell 0.3% to $4,619.80. Other precious metals also experienced notable declines. Silver Spot declined 2.4% to $90.56 per ounce, pulling back significantly after hitting an all-time high of $93.57 earlier in the session. Meanwhile, Platinum Spot receded 0.5% to $2,372.75 per ounce, and Palladium Spot lost 2.8% to $1,789.68 per ounce.
