US treasury bond yields rose, and the US dollar rose slightly on Monday Federal Reserve Chairman Powell's speech is coming, how is the trend of gold prices?

On Monday (July 1st), dragged down by the rise of the euro at the beginning of trading, the US dollar index fell short and opened low. During the US market, it quickly rose to a daily high, then fell slightly, ultimately closing down 0.03% at 105.75. The euro rose as high as 0.6% on the day to a two week high. The Japanese yen fell to 161.74 in intraday trading, hitting a new low since 1986. The sharp rise in long-term US bond yields further drives the curve to become steeper. The 10-year US Treasury yield rose to a one month high, closing at 4.467%. US 30-year treasury bond bond yield rose to the highest level since June 3.

On Monday (July 1st), gold prices rose 0.23% to close at $2331.60 per ounce, boosted by some investors covering short positions. The US June ISM manufacturing PMI data fell short of market expectations, providing upward momentum for gold prices. The market focus has shifted to the US employment data to be released later this week, which may provide more clues for the Federal Reserve's interest rate cut.

On Monday (July 1st), due to traders predicting that the peak summer driving season in the Northern Hemisphere will drive up oil demand and concerns that the Middle East conflict may spread and reduce global oil supply, both the US and Brent oil markets rose by about 2% on Monday, reaching a two month high. WTI crude oil rose 2.35% to $83.35 per barrel; Brent crude oil rose 2.06% to $86.61 per barrel.