Safe-haven demand boosted the US dollar, while tariff concerns kept gold above $3000.

On Wednesday, the US dollar index continued to rise, ultimately closing up 0.43% at 104.67, after insiders reported that Trump was preparing to announce car tariffs as early as Wednesday local time (now announcing a 25% tariff on all imported cars). The benchmark 10-year US Treasury yield closed at 4.3530%; The two-year US Treasury yield, which is more sensitive to monetary policy, closed at 4.0370%. On Wednesday (March 26), US President Trump dropped a “tariff bomb” and announced a high 25% tariff on imported cars.

This radical policy, which came into effect on April 3, marks a comprehensive upgrade of his trade war strategy. Gold prices fluctuated narrowly on Wednesday, despite the rise of the US dollar index to a nearly three week high putting pressure on gold prices. However, concerns about the Trump administration's new tariffs continue to provide safe haven support for gold prices. On this trading day, the final value of the US fourth quarter GDP and changes in the number of initial jobless claims in the US will be released, and investors need to pay attention.

Due to EIA data showing a decrease in US crude oil and fuel inventories, coupled with the US threat to impose tariffs on countries purchasing Venezuelan crude oil, market concerns about global oil supply tightening have intensified. WTI crude oil ultimately closed up 1.07% at $69.88 per barrel; Brent crude oil closed up 1.22% at $74.01 per barrel.