Trump raises tariffs, USD rebounds, gold recovers $50.

On Monday, due to US President Trump's announcement of new tariffs on a series of countries including Japan and South Korea on August 1st, the US dollar index rose sharply, reaching a intraday high of 97.65 and ultimately closing up 0.58% at 97.51. The benchmark 10-year US Treasury yield closed at 4.385%, and the 2-year US Treasury yield closed at 3.897%. Gold prices hit a bottom and rebounded on Monday. Earlier, due to the rebound of the US dollar, concerns about the cooling geopolitical situation, and the extension of the trade negotiation deadline by the United States, gold prices fell below 3300 to 3296.37 US dollars per ounce. However, gold prices rebounded and closed at 3336.19 US dollars per ounce, close to parity. Due to US President Trump's announcement of a 25% tariff on goods from Japan and South Korea starting from August 1, US stocks fell sharply, triggering some safe haven interest. In addition, the People's Bank of China purchased gold for the eighth consecutive month in June, but the strengthening of the US dollar to a one week high still made gold bulls hesitant. Due to signs of strong demand offsetting concerns about OPEC+'s unexpected production increase in August and the potential new impact of US tariffs, both oil companies have rebounded significantly. WTI crude oil surged over 2% during the day, briefly above $67 during trading, and ultimately closed up 2.11% at $67.01 per barrel; Brent crude oil closed up 1.65% at $69.02 per barrel.