Geopolitical tensions weakened the US dollar, boosting gold towards $5050.

Last Friday, due to geopolitical tensions that made investors uneasy, the US dollar index fell throughout the day, ultimately closing down 0.84% at 97.46, the largest weekly decline since June last year; The benchmark 10-year Treasury yield ultimately closed at 4.233%, while the 2-year Treasury yield sensitive to the Federal Reserve policy rate closed at 3.607%. Spot gold prices continued their upward trend on Monday (January 26), breaking the key threshold of $5000 per ounce for the first time in history. As of 07:40, the intraday high reached $5031.58, setting a new historical record with an increase of about 0.9%. This round of rise is mainly driven by rising geopolitical risks, especially the friction between the United States and NATO over the Greenland issue, which has intensified market concerns about financial and geopolitical uncertainty. In addition, the United States announced a new round of sanctions on entities and oil tankers related to Iran last week, and recently strengthened military deployments in the Persian Gulf and many parts of the Middle East. The market is concerned about the United States launching attacks on Iran. Due to US President Trump imposing more sanctions on ships transporting Iranian oil and announcing a fleet heading to the Middle East, international oil prices have rebounded. WTI crude oil ultimately closed up 2.81% at $61.39 per barrel; Brent crude oil ultimately closed up 2.72% at $66.08 per barrel.