Weak US jobs and Fed cuts weigh on the dollar, gold eyes $3700.

After the weak US employment report was released last week, the US dollar index continued its downward trend on Monday, ultimately closing down 0.28% at 97.47. The benchmark 10-year US Treasury yield closed at 4.0430%, and the 2-year US Treasury yield closed at 3.4970%.

On Tuesday morning (September 9th Beijing time) in the Asian market, spot gold traded around $3631 per ounce, as weak US labor market data strengthened expectations of a Fed interest rate cut next week. Gold prices continued to hit a historic high of $3646.23 per ounce on Monday, and are expected to continue rising to around $3700-3730 in the short term.

The EU plans to launch the 19th round of sanctions against Russia, targeting banks and oil trade. Oil prices closed higher on Monday, recovering some of last week's losses. WTI crude oil ultimately closed up 0.79% at $62.45 per barrel; Brent crude oil ultimately closed up 0.87% at $66.23 per barrel.