Six major markets diverged sharply in the same session Thursday, as WTI crude traded above $100 a barrel for the first time since May while gold fell instead of rallying despite the escalating conflict that would typically support it as a hedge. The Canadian dollar held roughly flat, with oil crossing the $100 mark on both benchmarks offsetting the combined drag of wider bond yields and the ongoing trade dispute. Gold's move suggests it is currently trading off real-yield direction rather than geopolitical risk.
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