Tariffs trigger global economic recession concerns, US dollar hits bottom and rebounds on Tuesday Gold price continues to remain bearish trend
On Monday, the US dollar index maintained its upward trend, ultimately closing up 0.56% at 103.5.
On Monday, the US dollar index maintained its upward trend, ultimately closing up 0.56% at 103.5. The benchmark 10-year US Treasury yield closed at 4.177%; The two-year US Treasury yield, which is more sensitive to monetary policy, closed at 3.769%. Gold prices fell nearly 2% on Monday, marking three consecutive trading days of decline. The intraday low reached $2956.67 per ounce, closing at $2981.86 per ounce. After concerns about a global economic recession caused by the comprehensive imposition of tariffs by the United States, investors turned to the US dollar as a safe haven. However, given the severe economic situation, analysts are still bullish on gold, and there is still some buying on dips to support the price of gold. International oil prices continue to decline, with a drop of over 3% at one point during trading. WTI crude oil fell to a intraday low of $58.75 at one point, then rebounded and ultimately closed down 2.16% at $60.74 per barrel; Brent crude oil closed down 2.27% at $64.23 per barrel.