Tariffs raise risk, weak USD. Gold up, oil waits on US-Iran.

On Monday, after the US Supreme Court overturned Trump's tariff policy, traders re evaluated the US tariff policy, and the US dollar index closed sideways, falling 0.02% to 97.73. The benchmark 10-year Treasury yield closed at 4.0330%, while the 2-year Treasury yield sensitive to the Federal Reserve policy rate closed at 3.4440%. On Monday (February 22), spot gold prices surged 2.5%, marking four consecutive trading days of gains. On Tuesday (February 23) morning trading in the Asian market, gold prices continued to rise. As of 07:35, spot gold briefly touched the 5250 mark, reaching a new high since January 30. The April US gold futures contract also surged 2.8%, settling at $5225.60 per ounce. This upward trend is a concentrated outbreak of safe haven demand caused by multiple uncertainties, especially the global trade uncertainty brought about by President Trump's repeated tariff policies, which has become the most direct trigger for igniting gold prices. As the United States and Iran are about to hold their third round of nuclear negotiations, international oil prices have slightly fallen, but remain at a six-month high. WTI crude oil fell slightly by 0.09% to $66.36 per barrel; Brent crude oil closed down 0.3% at $71.45 per barrel.