Strong data lifted the US dollar, limiting gold's rise amid higher bond yields.
On Tuesday, the US dollar index weakened in the Asian and European markets, but rebounded in the US due to higher than expected economic data from two sectors, ultimately closing up 0.38% at 108.69. The benchmark 10-year US Treasury yield closed at 4.6870%; The two-year US Treasury yield, which is more sensitive to monetary policy, closed at 4.3020%.
Bitcoin experienced a rapid short-term decline, approaching $96000 per coin.
On Wednesday (January 8th Beijing time), spot gold trading was around 2648.44, with limited gains in gold prices due to the strengthening of the US dollar and the rise in government bond yields. Previously, the increase in US jobs indicated a reduced possibility of a significant interest rate cut by the Federal Reserve.
Due to market concerns that the escalation of Western sanctions will lead to tight supply of crude oil from Russia and Iran, oil prices have reversed their early decline. WTI crude oil ultimately closed up 1.37% at $74.37 per barrel; Brent crude oil closed up 1.23% at $77.13 per barrel.
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