Gold Surges to All-Time Highs, Treasuries and Stocks React

Treasuries slipped and gold pared gains as markets reacted to Federal Reserve Chair Jerome Powell's reminder that interest rate cuts are not imminent. Yields on 10-year Treasuries rose, while gold traded lower but remained on track for a record close. Bitcoin climbed to its highest level since April 2022. Asian shares were mixed, with gains in Australian and Korean stocks, while Japanese equities fell. Traders will be monitoring global economic data, including Australian growth, Chinese inflation, and US non-farm payrolls. Geopolitical tensions in the Middle East and the resumption of Israel's military operation in Gaza are also being watched.