US dollar rose as investors adjusted positions, while Middle East turmoil drove gold near $2700.
On Tuesday, the US dollar index continued its upward trend, reaching a intraday high of 106.62 during trading and ultimately closing up 0.22% at 106.38. The yield of US Treasury bonds has rebounded, with the two-year bond yield closing at 4.147% and the 10-year bond yield closing at 4.225%. Spot gold continued its upward trend, hitting a two-week high of $2698.20 per ounce at one point. Gold prices surged 1.27% on Tuesday, initially breaking through the volatile range of the past two weeks, supported by rising geopolitical tensions and expectations of a third interest rate cut by the Federal Reserve next week, while market attention turned to Wednesday's US inflation data. Due to market expectations that the demand for crude oil from China and Europe, the world's largest buyers, will increase, WTI crude oil slightly rose. WTI crude oil first fell and then rose, reaching a intraday high of $68.76 during trading, but then gave up most of the gains, ultimately closing up 0.4% at $68.18 per barrel; Brent crude oil closed up 0.2% at $71.89 per barrel.
Gold is in a range, but testing its upper bound
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