The market has a strong wait-and-see atmosphere, with the US dollar slightly rising on Tuesday Gold continues its record breaking upward trend

10 Apr, 2024

On Tuesday (April 9th), the US dollar index showed weak performance and quickly rebounded after falling 104 intraday, ultimately closing down 0.027% at 104.11.

On Tuesday (April 9th), the US dollar index showed weak performance and quickly rebounded after falling 104 intraday, ultimately closing down 0.027% at 104.11. The collective pullback in US bond yields. The 10-year US Treasury yield fell from a four month high, breaking below the 4.4% mark and ultimately closing at 4.371%. The yield on the 2-year US Treasury, which is most sensitive to Federal Reserve policy rates, closed at 4.749%.

 

Gold prices continued their record breaking rise on Tuesday (April 9th), reaching a historic high of $2365.18 per ounce during trading, benefiting from buying momentum and geopolitical risks. At the same time, market focus shifted to the Federal Reserve's policy meeting minutes and US inflation data to seek more information on the US interest rate reduction schedule.

 

As traders closely evaluated the situation in the Middle East, international crude oil fell for the second consecutive day. WTI crude oil intensified its decline in the US market on Tuesday (April 9th), ultimately closing 1.4% lower at $85.28 per barrel; Brent crude fell below the 90 mark on Tuesday (April 9th), closing down 1.15% at $89.52 per barrel.

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