US-Iran Deal Optimism Lifts USD; Gold Holds Above 4540, Oil Nears 90

Last Friday, due to the strengthening optimism in the market towards the agreement between the US and Iran, the US dollar index first rose and then fell, and quickly plunged during the US trading session, ultimately closing down 0.06% at 98.93; The benchmark 10-year Treasury yield closed at 4.443%, while the 2-year Treasury yield sensitive to the Federal Reserve policy rate closed at 4.010%. Spot gold opened slightly lower on Monday, June 1, 2026, falling 0.48% to around $4518 per ounce, causing a brief cooling of market sentiment. Previously, there was no clear breakthrough in the US Iran peace talks over the weekend, and the continued advance of the Israeli army towards southern Lebanon further intensified international concerns about the situation in the Middle East getting out of control. Due to increased optimism in the market about the opening of the Strait of Hormuz, crude oil fell more than 1% on Friday and recorded its largest weekly decline since early April. WTI crude oil fluctuated downwards, briefly falling below the $90 mark during trading, and ultimately closing down 0.61% at $90.23 per barrel; Brent crude oil ultimately closed down 1.2% at $91.32 per barrel.