Dollar and U.S. Treasury Yields Rise, Pressuring Gold Prices; Market Awaits Fed Meeting Minutes

BlockBeats News, October 7 — On Wednesday, the dollar and U.S. Treasury yields rose again, putting pressure on gold prices. The U.S. Dollar Index is currently around 102.30, hovering near its highest level since April 2025. Meanwhile, the yield on the U.S. 10-year Treasury note climbed to approximately 5.324%, close to Monday's peak of 5.349%, the highest level since 2002. The Middle East conflict has driven up oil prices and exacerbated inflation risks, coupled with rising government debt and fiscal deficits, as well as the resilience of the U.S. economy, all contributing to higher financing costs. Traders are closely watching the Federal Open Market Committee (FOMC) meeting minutes for the latest clues on whether the Federal Reserve might further tighten policy. Since the outbreak of the Middle East conflict at the end of February, market expectations for the Fed's hawkish policy stance have continued to weigh on gold prices. Gold is currently down more than 25% from its historical high of nearly $5,600 in January. However, long-term demand continues to provide fundamental support for gold. (Jin10)