US, Iran trade ceasefire blame; dollar up, gold hits $4500, oil +4%.

On Tuesday, the United States launched a new round of airstrikes on Iran, hitting the market's optimistic expectations of a short-term ceasefire and boosting demand for safe haven US dollars. The US dollar index ultimately closed up 0.18% at 99.15; The benchmark 10-year Treasury yield closed at 4.490%, while the 2-year Treasury yield sensitive to the Federal Reserve policy rate closed at 4.049%. The global gold market experienced a significant pullback on Tuesday (May 26th). Spot gold fell sharply by 1.38% to $4507.39 per ounce, dropping to $4482.66 per ounce at one point during trading. This is the result of the combined effect of rising expectations of interest rate hikes by the Federal Reserve and renewed geopolitical tensions in the Middle East, which have suppressed gold, a traditional safe haven asset, from different dimensions. On Wednesday (May 27th) morning trading in the Asian market, spot gold fluctuated narrowly and is currently trading around $4510 per ounce. The latest conflict between the United States and Iran has cast a shadow over the prospects of reaching a temporary agreement and reopening the Strait of Hormuz, causing international oil prices to surge by over 3%. WTI crude oil ultimately closed up 3.3% at $96.29 per barrel; Brent crude oil ultimately closed up 3.41% at $99.57 per barrel.