The market re evaluates the outlook for the US economy, and the US dollar rebounded significantly on Thursday Multiple positive factors support the sustained bullish outlook for gold prices
On Thursday, the US dollar index initially hit the 104 mark in the US market, reaching a new high in nearly two weeks, and finally closed up 0.331% at 103.81.
On Thursday, the US dollar index initially hit the 104 mark in the US market, reaching a new high in nearly two weeks, and finally closed up 0.331% at 103.81. The majority of US Treasury yields closed lower, with the yield curve continuing to steepen. The benchmark 10-year US Treasury yield closed at 4.235%; The two-year US Treasury yield, which is more sensitive to monetary policy, closed at 3.974%. After hitting a historic high earlier on Thursday, the price of gold has fallen slightly. However, driven by the Federal Reserve's suggestion of a possible interest rate cut and ongoing geopolitical and economic uncertainty, gold still maintains a bullish outlook. Spot gold hit a historic high of $3057.21 earlier on Thursday, but later closed at $3044.35 per ounce due to profit taking gains. Due to the new sanctions imposed by the United States on Iran, international oil prices have risen. WTI crude oil continued to rise during the US trading period, rising above the 68 mark and ultimately closing up 1.94% at $68.32 per barrel; Brent crude oil closed up 1.81% at $71.84 per barrel.