Fed hawkishness supports USD, gold consolidates.

With the Supreme Court abolishing old tariffs and the White House introducing new import taxes, the US dollar has fluctuated sharply. On Tuesday, the US dollar index closed down 0.026% at 97.87; The benchmark 10-year Treasury yield closed at 4.0350%, while the 2-year Treasury yield sensitive to the Federal Reserve policy rate closed at 3.4650%. On Tuesday (February 24th), spot gold prices experienced a significant correction, falling nearly 2.5% to nearly $5094 at one point, closing at $5141.43 per ounce, a decrease of about 1.65%, thus interrupting the previous four consecutive trading days of upward trend. This round of adjustment is mainly due to market profit taking behavior combined with the significant strengthening of the US dollar index, which has led to downward pressure on precious metals priced in US dollars. With the resumption of the US Iran dialogue this week, the sentiment in the crude oil market remains tense. The renewed transparency in the trade situation has also put pressure on the market. WTI crude oil closed down 0.3% at $66.06 per barrel; Brent crude oil closed down 0.04% at $71.07 per barrel.