US-EU tariff deal expected; USD and gold fall, with gold down $50 from 5-week high.

On Wednesday, as the United States reached agreements with more trading partners, market risk aversion cooled. The US dollar index remained weak, ultimately closing down 0.16% at 97.162. The yield of US Treasury bonds has rebounded across the board, with the benchmark 10-year yield closing at 4.388% and the 2-year yield closing at 3.886%. On Wednesday, the gold market experienced a roller coaster ride. The gold price surged to a five week high of $3438 per ounce in the early session of the Asian market, but then quickly fell back, with a daily decline of more than 1%, and finally closed at $3386.99 per ounce, down more than $50 from the intraday high. Behind this drastic fluctuation is the resonance of multiple factors such as the progress of the US European tariff agreement, the recovery of risk assets, and the uncertainty of the Federal Reserve's policies. Due to the progress of trade negotiations easing concerns about oil market demand, international oil prices are approaching parity. WTI crude oil fluctuated sideways near the $65 mark, ultimately closing down 0.18% at $65.22 per barrel; Brent crude oil closed flat at $68.06 per barrel.