The increase in the US Producer Price Index has fallen The US dollar fell significantly on Tuesday, and gold bulls have higher targets

On Tuesday (August 13th), the US dollar index plunged after PPI data boosted expectations of a Fed rate cut, ultimately closing down 0.491% at 102.62. The collective decline in US bond yields, with the benchmark 10-year US bond yield closing at 3.846%, hitting a new low in a week; The two-year US Treasury yield, which is more sensitive to monetary policy, fell below the 4% mark and closed at 3.94%.

The gold price held steady on Tuesday (August 13). Despite some profit taking, it still hovered near the historical high set in July and closed at 2464.67 dollars/ounce. As the US producer price data consolidated the hope of the Federal Reserve to cut interest rates in September, the yields of US dollars and treasury bond bonds fell; Concerns about the geopolitical situation also provide support for gold prices. Traders are now looking forward to the release of the US Consumer Price Index (CPI) data for July on Wednesday and the retail sales data on Thursday.

On Tuesday (August 13th), due to the prospect of a possible oversupply of crude oil outweighing concerns about the escalation of the Middle East conflict, international oil prices fell and stopped at four consecutive days of gains. WTI crude oil ultimately closed down 1.25% at $78.58 per barrel; Brent crude oil ultimately closed down 1.29% at $80.94 per barrel.