Trump tariffs spur safe-haven demand, USD dips slightly Monday as gold jumps nearly 3%.

On Monday, the US dollar index fluctuated and fell in the Asian and European markets. However, due to unexpected ISM non manufacturing data, the US dollar index rebounded below $100 and ultimately closed down 0.24% at 99.79. The benchmark 10-year US Treasury yield closed at 4.350%; The two-year US Treasury yield, which is more sensitive to monetary policy, closed at 3.8450%.

At the beginning of the Asian market on Tuesday (May 6th), spot gold fluctuated narrowly at a high in the past week, currently trading around $3330 per ounce. Driven by the weakening of the US dollar and safe haven demand, gold prices rose nearly 3% on Monday, with spot gold closing at $3333.73 per ounce, up nearly $100 from last Friday's closing price.

The market is waiting for the Federal Reserve's policy decision later this week. Due to market news that OPEC+will continue to accelerate production increases, crude oil opened down 5% on Monday and closed down more than $1. WTI crude oil ultimately closed down 2.06% at $57.15 per barrel; Brent crude oil closed down 1.82% at $60.30 per barrel.