US-Iran 60-day MOU hopes lift gold; US oil eyes $85.

On Thursday, it was reported that the negotiating team between the United States and Iran had reached an agreement on a 60 day memorandum of understanding, but later sources said that Iran had not yet agreed to any memorandum of understanding; US Treasury Secretary Besson stated at a briefing that the US negotiating team with Iran is still in ongoing consultations, and Trump has clearly set multiple "red lines" and will not accept a "bad deal". Driven by the rise in energy prices during the US Iran conflict, the PCE inflation rate in the United States reached a three-year high in April, and the US dollar index continued to rise, ultimately closing up 0.01% at 99.02; The benchmark 10-year Treasury yield closed at 4.452%, while the 2-year Treasury yield sensitive to the Federal Reserve policy rate closed at 4.031%. The international gold market experienced a thrilling and dramatic turning point in the just concluded trading day. Spot gold prices plummeted to a two month low of $4366.52 per ounce during trading on Thursday (May 28), just as bears cheered and prepared to celebrate their victory, the situation suddenly turned sharply upwards. The gold price subsequently launched a strong rebound, not only recovering all lost ground, but also closing at $4495.59 per ounce with a nearly 1% increase, staging a textbook style "bottoming out and rebounding" market. The US futures market also performed strongly, with the main contract closing up 1.1% at $4532.40.