The market eyes geopolitics as the USD rises Wednesday and gold retreats from a record high.

On Wednesday, due to Trump's announcement that he would impose tariffs of about 25% on cars and chips, the US dollar index fluctuated upward throughout the day and eventually stabilized at the 107 mark, closing up 0.28% at 107.18. The benchmark 10-year US Treasury yield closed at 4.5380%; The two-year US Treasury yield, which is more sensitive to monetary policy, closed at 4.2740%. Gold prices hit a record high of $2946.88 per ounce on Wednesday before falling back to close at $2933.05 per ounce, close to flat. The K-line recorded a cross star, and despite investors feeling nervous about President Trump's latest tariff threat, the US dollar continued to rebound, prompting some bulls to take profits. More importantly, Trump's demand for "dictator" Zelensky to act quickly to ensure peace has cooled geopolitical concerns and suppressed safe haven demand for gold. Due to the attack on the pumping station of the Caspian Sea oil pipeline in Russia and the impact of cold weather on oil production in North Dakota, the third largest oil producing state in the United States, the market is concerned about supply disruptions from Russia and the United States, leading to a decrease in oil supply and a rise in international oil prices. WTI crude oil ultimately closed up 0.49% at $72.07 per barrel; Brent crude oil closed up 0.36% at $76.04 per barrel.