The dollar and US Treasury yields rose, putting pressure on gold prices, while the market awaits the Federal Reserve meeting minutes.

BlockBeats news, October 7, Wednesday saw the US dollar and US Treasury yields rise 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 rose to about 5.324%, close to the 5.349% touched on Monday, the highest level since 2002. Middle East conflicts have pushed up oil prices and heightened inflation risks, while rising government debt and fiscal deficits, along with the resilience of the US economy, have all driven financing costs higher.

Traders will closely watch the minutes of the Federal Open Market Committee meeting for the latest clues on whether the Federal Reserve may further tighten policy. Since the outbreak of the Middle East conflict at the end of February, market expectations for a hawkish Federal Reserve policy outlook have continued to weigh on gold prices, which are currently more than 25% below the historical high of nearly $5,600 in January. However, long-term demand still provides fundamental support for gold. (Jinshi)