Market Overview

The US dollar index this week generally demonstrated a "rise amid a pullback and subsequent consolidation." At the beginning of the week, the index confidently increased amid escalating tensions in the Middle East and reached a more than 10-month high. Subsequently, expectations of a de-escalation of the conflict led to a pullback in the index, but on Thursday, amid worsening risk appetite, it strengthened again, fluctuating around the 100 mark throughout the week. On Friday, after the release of labor market data, the dollar index again surpassed the 100 level.

Spot gold initially showed strength this week, then weakened, remaining generally in positive territory. On Wednesday, amid a falling dollar and expectations of stabilization, gold prices rose close to $4,800, the highest since March 19; however, on Thursday, following Trump's harsh statements, a sharp rise in oil prices, and concerns about inflationary pressures that could slow down rate cuts, some gold positions were booked. Spot silver was even more volatile during the week, moving in the same direction as gold but with greater elasticity.