Risk appetite rose, USD fluctuated, and gold dropped $60 on US-China trade progress.

Last Friday, due to the market's wait-and-see attitude towards the China US talks, the US dollar index softened and fell as low as 100.08, ultimately closing down 0.21% at 100.42. The benchmark 10-year US Treasury yield closed at 4.3890%; The two-year US Treasury yield, which is more sensitive to monetary policy, closed at 3.9100%. At the beginning of the Asian market on Monday (May 12th), spot gold opened low and fell. As of 7:00, it hit a new low of nearly a week at $3265.88 per ounce, a drop of nearly $60 or about 1.76% from last Friday's closing price. Due to the high-level economic and trade talks between China and the United States held in Geneva, Switzerland last weekend, substantial progress was made in the talks; This has boosted market risk-taking sentiment and suppressed safe haven buying demand for gold. The news that Putin proposed to resume Russia Ukraine direct talks in Türkiye on the 15th and the India Pakistan ceasefire also hit the bullish morale. Last Friday, due to the easing of trade conflicts between the United States and other countries, oil prices hit their first weekly increase since mid April. WTI crude oil approached $61, ultimately closing up 1.29% at $60.99 per barrel; Brent crude oil closed up 1.14% at $63.88 per barrel.