After the release of US data, spot gold dropped sharply in the short term and then quickly rebounded, with a short-term fluctuation of nearly $10.
According to Odaily, after the release of US data, spot gold experienced a sharp drop followed by a rapid rebound, with a short-term fluctuation of nearly $10. It is currently quoted at $4,633 per ounce. (Golden Ten Data)
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The US Treasury will conduct auctions of two-year, five-year, and seven-year Treasury bonds next week. Currently, traders are racing to borrow bonds to short them, driving the borrowing costs for short-term Treasuries sharply higher. On Friday, the overnight repo rate for borrowing the current two-year Treasury was about 0.79%, while the rate for the five-year even dropped to as low as -0.85%. In contrast, the repo rate for regular Treasuries was around 3.88%.
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