[US/] * Gold is generally considered a hedge against inflation, although higher bond yields have challenged that status recently as they increase the opportunity cost of holding non-yielding bullion. * The number of Americans filing new jobless claims fell to a four-month low last week, while the U.S. market morale rose to its highest in a year in early March. [GOL/ETF] * Hedge funds and money managers slashed their bullish positions in COMEX gold and silver contracts in the week to March 9, data showed said on Friday.