ME ceasefire nominal; USD down; gold $4600; oil < $100.

On Tuesday, US Defense Secretary Hedgehog stated that the ceasefire agreement between the US and Iran remains in effect, easing concerns that the region will fall back into full-scale war after the UAE attack this week. The US dollar index fluctuated sideways and ultimately closed up 0.019% at 98.48. The benchmark 10-year Treasury yield closed at 4.429%, while the 2-year Treasury yield sensitive to the Federal Reserve policy rate closed at 3.95%. Spot gold closed at $4557.27 per ounce on Tuesday, with a full day increase of 0.74%. This rebound occurred just after the gold price hit its lowest point since March 31st at $4501 on Monday. The recent sell-off followed by buying on dips, combined with the decline in oil prices, has provided support for gold prices. Near the psychological threshold of $4500, there is no shortage of buyers willing to enter the market. These buyers clearly believe that the current geopolitical environment and macroeconomic background are still sufficient to support gold prices to remain relatively high. International oil prices have fallen, but remain high as the Strait of Hormuz remains largely closed. WTI crude oil ultimately closed down 2.45% at $103.63 per barrel; Brent crude oil ultimately closed down 2.96% at $108.96 per barrel.