US-EU trade deal boosted the dollar, gold fell, and oil rose 0.75% to $68.57.

On Monday (July 28th), in the morning session of the Asian market, spot gold bottomed out and rebounded. At the beginning of the session, it continued the downward trend from last Friday to around the 3320 mark. Due to the trade agreement between the United States and Europe, the demand for safe haven gold further decreased. However, the gold price was supported by bargain hunting and quickly recovered most of the decline. Currently, it is trading around $3335 per ounce. This week, the market will experience multiple heavyweight risk events, including the international trade situation, central bank interest rate decisions such as the Federal Reserve, heavyweight economic data such as the US PCE, and geopolitical situations. Some negative economic news and expectations of increased supply have led to a decline in international oil prices, but optimism that international trade agreements may boost global economic growth and future oil demand has limited the decline. WTI crude oil fell to a more than three week low, ultimately closing down 1.67% at $64.85 per barrel; Brent crude oil closed down 1.41% at $67.6 per barrel.