US tariff concerns drop USD; gold up $30. Focus on US CPI data.

On Tuesday, the US dollar index fluctuated downwards, reaching its lowest level since mid October last year, and ultimately closed down 0.511% at 103.39. After hitting a five month low, the yield on US Treasury bonds rebounded, with the benchmark 10-year yield closing at 4.285%; The two-year US Treasury yield, which is more sensitive to monetary policy, closed at 3.951%. Overnight gold prices rose nearly $30, reaching as high as $2922.09 per ounce and closing at $2915.55 per ounce. US President Trump announced the expansion of tariffs on steel and aluminum, adding nearly $150 billion worth of metal derivatives to the tax list for the first time, and the market's safe haven demand for gold has once again rebounded. Ukraine has agreed to accept the US proposal for an immediate 30 day ceasefire in the conflict with Russia, which has caused concerns among gold bulls. The pressure on the US dollar has also benefited international oil prices, but concerns about the demand outlook still limit the increase. WTI crude oil hit the 65 level and rebounded, ultimately closing up 1.02% at $66.28 per barrel; Brent crude oil ultimately closed up 0.92% at $69.64 per barrel.