Dollar slumped Friday on weak confidence; gold may open above $3220.

Last Friday, due to the Trump administration's repeated actions on import tariffs, which shook investors' confidence in the US dollar as a safe haven, the US dollar index continued to weaken and fell below the $100 mark at one point, ultimately closing down 1.08% at 99.84.

The benchmark 10-year US Treasury yield closed at 4.494%; The two-year US Treasury yield, which is more sensitive to monetary policy, closed at 3.977%. On Monday (April 14th Beijing time), spot gold traded around $3220.22. Gold prices broke through the $3200 mark last Friday and reached a record high of $3245.26.

Due to concerns about an economic recession caused by the weakening of the US dollar and the escalation of the trade war, investors flocked to gold as a safe haven. Due to the US Secretary of Energy's statement that the US can prevent Iran's oil exports, both crude oils rebounded. WTI crude oil continued to rise during the US trading session, returning above the $60 mark and ultimately closing up 2.15% at $60.96 per barrel; Brent crude oil closed up 1.49% at $64.23 per barrel.