US-Iran deadlock; USD down, gold < $4700, oil 2-week high.

On Monday, the US dollar index opened short and continued to decline, dropping to a intraday low of 98.21 before rebounding sharply and ultimately closing up 0.01% at 98.48; The benchmark 10-year Treasury yield closed at 4.345%, while the 2-year Treasury yield sensitive to the Federal Reserve policy rate closed at 3.806%. Spot gold fell slightly by 0.6% on Monday (April 27th), closing around $4681.67 per ounce, while US June gold also fell by 1% to around $4693.70. The diplomatic stalemate in the Middle East US Iran conflict, the obstruction of shipping in the Strait of Hormuz, persistent high oil prices causing persistent inflation concerns, and the possibility of hawkish signals from the upcoming policy meeting of the Federal Reserve have all put pressure on gold prices. However, until the last press conference of Federal Reserve Chairman Powell and the clarification of the situation in Iran, the market remains cautious. Due to the deadlock in the US Iran peace talks and the continued obstruction of shipping in Hormuz, international oil prices have fluctuated widely. WTI crude oil briefly surged above $99 during the US trading session and ultimately closed up 1.5% at $98.54 per barrel; Brent crude oil rebounded to a nearly two-week high and ultimately closed up 1.73% at $101.84 per barrel.