Market demand for hedging has fallen, and the US dollar index fell on Monday Gold plummeted by over 2%, marking the largest daily decline in a year

23 Apr, 2024

On Monday (April 22), the US dollar index continued to strengthen in the Asian and European markets, but weakened in the US market due to the fading of safe haven sentiment, ultimately closing down 0.

On Monday (April 22), the US dollar index continued to strengthen in the Asian and European markets, but weakened in the US market due to the fading of safe haven sentiment, ultimately closing down 0.004% at 106.12. The 10-year US Treasury yield ultimately closed at 4.610%. The yield on the 2-year US Treasury, which is most sensitive to the Federal Reserve's policy interest rates, hit the 5% mark and ultimately closed at 4.999%.

 

Gold prices fell 2.65% on Monday (April 22), with spot gold plummeting over $60, hitting a new weekly low of $2324.98 per ounce. Investors' concerns about the Middle East conflict have eased, prompting them to reduce their safe haven trades and favor riskier assets such as stocks. Gold prices recorded their largest daily decline in over a year.

 

Due to some premiums caused by the Middle East conflict continuing to fade from the market, WTI crude oil fell below the $81 mark during trading on Monday (April 22), and then rebounded in the US market, ultimately closing up 0.01% at $82.08 per barrel; Brent crude oil closed up 0.33% on Monday (April 22) at $87.13 per barrel.

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