Fed minutes dampen rate cut hopes Gold holds above $2,020 Crude supply tightens

On Wednesday (February 21), the US dollar index fluctuated around the 104 level and ultimately closed down 0.073% at 103.99. After the announcement of the auction results of the US 20-year treasury bond bonds, the US bond yield rebounded, the benchmark 10-year US bond yield rose to 4.30% again, and the two-year US bond yield, which is most sensitive to the policy interest rate of the Federal Reserve, closed at 4.651%.

Gold prices rose slightly on Wednesday (February 21), staying above $2,020, as the Middle East conflict boosted safe haven demand, and the minutes of the latest Federal Reserve meeting suppressed hopes of early interest rate cuts, limiting gold price gains.

Oil prices rose 1% on Wednesday (February 22) due to the tense geopolitical situation in the Middle East, with traders assessing signs of recent supply shortages.