Dollar and yields fell as US-Europe talks faltered, lifting gold to a five-week high.

On Monday, due to the strengthening of the stock market reducing the demand for liquidity in the US dollar, coupled with the decline in US bond yields, the US dollar index fell and broke through the 98 level, ultimately closing down 0.65% at 97.808. US Treasury yields fell across the board, with the benchmark 10-year yield closing at 4.384% and the 2-year yield closing at 3.876%. Driven by the weakening of the US dollar, the decline in US bond yields, and the intensification of global trade tensions, gold prices surged over 1% on Monday, hitting a five week high of $3401.41 per ounce during trading and closing at $3396.91 per ounce. As the deadline for the United States to impose new tariffs on global trading partners approaches on August 1st, market uncertainty provides strong support for gold. Due to the stalled US trade talks, concerns about oil demand in the market persist, and the latest EU sanctions have not yet weakened Russia's energy exports, putting pressure on international oil prices. WTI crude oil fell below the $66 mark and ultimately closed down 0.48% at $65.68 per barrel; Brent crude oil closed down 0.31% at $68.38 per barrel.