USD surged on safe-haven demand. Gold rose for the 6th week. Trump may hike tariffs.

Last Friday, the US dollar index returned to the 108 mark and ultimately closed up 0.36% at 108.10, as non farm payrolls hinted that the Federal Reserve would continue to pause interest rate cuts and Trump announced the imposition of equivalent tariffs on many countries this week. The benchmark 10-year US Treasury yield closed at 4.4960%; The two-year US Treasury yield, which is more sensitive to monetary policy, closed at 4.3020%. Spot gold opened low and rose, falling to around $2854.72 per ounce at one point due to the rise of the US dollar, but quickly turned the decline into an increase; Trump had previously stated that he would announce a 25% tariff on all steel and aluminum entering the United States on Monday, putting temporary pressure on gold prices as the safe haven dollar opened higher. However, gold prices were soon supported by safe haven buying. Gold prices rose for the sixth consecutive week last week as the escalating trade tensions between China and the United States prompted investors to buy safe haven assets. Most analysts and retail investors tend to be bullish on the future market.