USD up on tariffs, geopolitics; gold weak.

On Thursday, the US dollar index unexpectedly rose in the short term after the Federal Reserve's favorite inflation indicator unexpectedly rebounded, reaching the 100 integer mark for the first time in two months, and finally closing up 0.11% at 100.03, marking the sixth consecutive trading day of gains and achieving the first monthly increase since 2025. The yield of US Treasury bonds fluctuated, with the benchmark 10-year bond yield closing at 4.375% and the 2-year bond yield closing at 3.963%. Spot gold prices rose 0.46% on Thursday, reaching a high of $3314.71 per ounce during trading. This wave of increase is driven by multiple factors including increasing global trade uncertainty, rising inflationary pressures in the United States, and geopolitical tensions. On Friday morning (August 1st) in the Asian market, gold prices did not fluctuate significantly and are currently trading around $3290 per ounce. Investors need to pay attention to the impact of the implementation of tariff policies and the fermentation situation. In addition, they need to pay attention to the US July non farm payroll report and the speeches of Federal Reserve officials. International crude oil has stopped three consecutive declines. WTI crude oil briefly approached the $68 mark in the US market, but ultimately closed down 1.29% at $68.92 per barrel; Brent crude oil ultimately closed down 1.25% at $71.69 per barrel.