US bond yields drag gold, while USD weakens after Tuesday's rebound.

On Tuesday, the US dollar index fell slightly and fell below the 103 mark, ultimately closing down 0.51% at 102.97. The benchmark 10-year US Treasury yield closed at 4.304%; The two-year US Treasury yield, which is more sensitive to monetary policy, closed at 3.738%. On Wednesday (April 9th) morning trading in the Asian market, spot gold maintained a narrow range of fluctuations, trading around $2981. On the previous trading day, the rebound of gold prices was hindered, and it briefly rose to $3022 during trading. However, due to the rise in US bond yields and the decline in US stocks, it eventually gave up its gains and closed around $2982. Despite the weakening of the US dollar and trade tensions providing safe haven support for gold, market concerns over weak demand for bond auctions, the outlook for Federal Reserve policies, and intensified stock market volatility still dominate short-term sentiment. International oil prices continue to decline, plummeting by another 4%. WTI crude oil fell by over 5% at one point, hitting a new low since April 12, 2021, and finally closed down 4.74% at $57.86 per barrel; Brent crude oil closed down 4.52% at $61.33 per barrel.