Trade concerns lifted the US dollar, while Fed rate cut expectations drove gold higher.
On Wednesday, the US dollar index remained above the 106 level and ultimately closed up 0.23% at 106.65. The yield of US Treasury bonds continues to rise, with the two-year bond yield closing at 4.157% and the 10-year bond yield closing at 4.275%.
On Thursday (December 12th Beijing time), spot gold traded around 2717.90, with gold prices continuing to rise. Benefiting from the expected US inflation data, the possibility of the Federal Reserve cutting interest rates next week has increased. At the same time, investors are waiting for the US Producer Price Index (PPI) data to provide further direction for monetary policy
Due to the EU's agreement to impose a new round of sanctions on Russian oil exports, this may tighten global crude oil supply, with two oil companies rising more than 2%. WTI crude oil rose sharply, briefly above the $70 mark during trading, and ultimately closed up 2.62% at $69.96 per barrel; Brent crude oil closed up 2.07% at $73.36 per barrel.
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