On Thursday, as sources indicated that Pakistan was still mediating and that a window for U.S.-Iran negotiations might reopen, the U.S. Dollar Index retreated from around 101 and ultimately closed down 0.12% at 100.94;The benchmark 10-year U.S. Treasury yield closed at 4.558%, while the 2-year U.S. Treasury yield, which is sensitive to the Fed’s policy rate, closed at 4.189%.
Trump stated that Iran wants to reach an agreement, and reports indicated that Iran currently has no intention of dragging Israel into the conflict, which eased concerns that the escalation of hostilities would drive up inflation and push interest rates higher.Spot gold traded in a choppy uptrend, reaching a high of $4,138 per ounce, and ultimately closed up 1.14% at $4,123.82 per ounce;Spot silver briefly broke above the $60 mark and ultimately closed up 2.85% at $59.96 per ounce.
International oil prices fell as traders anticipated that the U.S.-Iran conflict would be limited in scope, easing concerns about further attacks on energy infrastructure.WTI crude oil ultimately closed down 3.82% at $71.69 per barrel; Brent crude oil closed down 4.1% at $76.02 per barrel.
U.S. stocks closed higher: the Dow Jones Industrial Average rose 0.26%, the S&P 500 gained 0.8%, and the Nasdaq Composite advanced 1.3%. Micron Technology (MU.O) rose 4.5%, SanDisk (SNDK.O) gained 7.5%, and Western Digital (WDC.O) rose 5%.Meta Platforms (META.O) rose 4.7%. The Nasdaq Golden Dragon China Index rose 0.56%, with iQIYI (IQ.O) up 8.5% and Alibaba (BABA.N) up 2%.