US dollar volatile amid rate cut expectations, gold nears $4,400.

On Monday, the US dollar index remained volatile, ultimately closing slightly higher by 0.06% at 98.60. The benchmark 10-year US Treasury yield closed at 3.9850%, while the 2-year US Treasury yield, which is sensitive to the Federal Reserve's policy interest rate, closed at 3.4640%.

On Monday, spot gold prices rose strongly by more than 2.5%, not only recovering all the losses from Friday but also briefly hitting a record high of $4,381.29 per ounce, ultimately closing at $4,356.26, an increase of about 2.5%.

This strong rebound in gold prices was not only due to investors' strong expectations of further interest rate cuts by the Federal Reserve, but also benefited from sustained safe-haven demand and potential uncertainties in Sino-US trade negotiations.

As the US government shutdown entered its 20th day, key economic data releases were delayed, and the market was in a highly sensitive state. Due to investor concerns about the possibility of global oversupply, oil prices closed at their lowest level since early May on Monday. WTI crude oil ultimately closed down 0.56% at $56.92 per barrel; Brent crude oil closed down 0.62% at $60.95 per barrel.