Gold prices declined slightly, while rising oil prices and U.S. Treasury yields weighed on gold.

⑴ Influenced by rising crude oil prices and higher US Treasury yields, gold prices have declined, falling to the lowest level in a week. According to the latest statistics, spot gold fell by 0.5% to $4,252 per ounce. ⑵ The yield on 10-year US Treasury bonds has reached a near 20-year high, increasing the holding cost of non-yielding gold and continuing to dampen gold's investment appeal. ⑶ With no substantive progress in geopolitical negotiations and oil prices remaining strong, the upside potential for gold prices is further limited. ⑷ The market expects a 67% probability of a Federal Reserve rate hike in October; the Fed continues to signal monetary policy tightening, which is bearish for precious metals. ⑸ Institutions predict significant short-term gold price volatility, and over the next quarter, gold prices are likely to remain in the range of around $4,180 per ounce. ⑹ Other precious metals also fluctuated; spot silver and platinum closed slightly lower, while palladium edged higher.