Safe haven demand rebounded, and the US dollar rose on Monday Profit taking triggers a significant rebound in gold prices

On Monday (July 8th), the US dollar index opened slightly higher and then bottomed out and rebounded, hitting the 105 level again, ultimately closing up 0.128% at 105.02. The yield of US Treasury bonds fluctuated, with the benchmark 10-year yield closing at 4.284% and the two-year yield closing at 4.641%.

On Monday (July 8th), due to the rebound in stock market risk sentiment, profit taking by investors, and the impact of the People's Bank of China's two consecutive months of stopping gold purchases, spot gold prices fell at a high level, intensifying the decline in the US market. It fell more than $30 on the day and ultimately closed down 1.35% at $2359.26 per ounce. Spot silver ultimately closed down 1.48% at $30.76 per ounce.

On Monday (July 8th), international oil prices fell for the second consecutive trading day due to Hurricane Beryl's potential lower than expected damage to the US crude oil infrastructure. WTI crude oil fell 1.3% to $82.21 per barrel; Brent crude oil ultimately closed down 1.38% at $85.63 per barrel.