Rising US dollar and Treasury yields weigh on gold prices; traders focus on Federal Reserve minutes

智通财经2026/10/07 11:14

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On Wednesday, the US dollar and Treasury yields climbed again, putting pressure on gold prices. The US Dollar Index is currently around 102.30, hovering near its highest level since April 2025. Meanwhile, the US 10-year Treasury yield rose to about 5.324%, close to Monday’s peak of 5.349%, the highest level since 2002. The Middle East conflict has pushed up oil prices and exacerbated inflation risks. Rising government debt and fiscal deficits, combined with the resilience of the US economy, have all contributed to higher financing costs. Traders will closely watch the Federal Open Market Committee meeting minutes for the latest clues on whether the Federal Reserve might further tighten policy. Since the Middle East conflict erupted at the end of February, expectations for a hawkish Fed policy outlook have continued to suppress gold prices, which are now down over 25% from the historical high of nearly $5,600 in January. Nevertheless, long-term demand still provides fundamental support for gold.

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On Wednesday, the US dollar and US Treasury yields rose again, putting pressure on gold prices. The US Dollar Index is currently at around 102.30, hovering near its highest level since April 2025. Meanwhile, the US 10-year Treasury yield has risen to about 5.324%, close to the 5.349% reached on Monday, marking the highest level since 2002. The Middle East conflict is driving up oil prices and increasing inflation risks. Coupled with rising government debt and fiscal deficits, as well as the US economy remaining resilient, these factors have all pushed up financing costs. Traders will closely monitor the minutes of the Federal Open Market Committee meeting for the latest clues on whether the Federal Reserve might further tighten policy. Since the outbreak of conflict in the Middle East in late February, expectations of a more hawkish policy outlook from the Federal Reserve have continually weighed on gold prices, which are now more than 25% below the historical high of nearly $5,600 reached in January. However, long-term demand still provides fundamental support for gold.

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The US Dollar Index, which measures the dollar against six major currencies, rose by 0.4% on the day, closing at 102.242 in the late New York forex market. By the close, 1 euro exchanged for 1.1199 US dollars, down from the previous session's 1.1261 US dollars; 1 British pound exchanged for 1.3219 US dollars, down from the previous session's 1.3277 US dollars. 1 US dollar exchanged for 157.96 Japanese yen, down from the previous session's 158.12 yen; 1 US dollar exchanged for 0.8330 Swiss francs, up from 0.8313 Swiss francs; 1 US dollar exchanged for 1.4256 Canadian dollars, up from 1.4209 Canadian dollars; and 1 US dollar exchanged for 9.9992 Swedish krona, up from 9.9861 Swedish krona in the previous session.

智通财经•2026/10/07 20:01

The US Dollar Index rose by 0.4%, closing at 102.242.

New York oil prices closed down 1.3%, Brent crude oil fell 0.38%.

At the close of trading, the November delivery light crude oil futures price on the New York Mercantile Exchange fell by $1.16, settling at $88.28 per barrel, a decrease of 1.3%. The December delivery Brent crude oil futures price in London fell by $0.38, closing at $100.20 per barrel, a decrease of 0.38%.

智通财经•2026/10/07 20:00