Bets on June interest rate cuts have increased, with the US dollar falling slightly Spot gold hit a three-month high

On Monday (March 4th), due to weak US economic data, the expectation of the Federal Reserve's interest rate cut once again heated up. The US dollar index fluctuated and fell for three consecutive trading days, ultimately closing down 0.045% at 103.83. The yield of US treasury bond bonds rebounded, with the benchmark 10-year US bond yield closing at 4.217% and the two-year US bond, which is most sensitive to the policy interest rate of the Federal Reserve, closing at 4.612%.

Affected by the expected increase in interest rate cuts and the weakening of the US dollar index, spot gold broke above $2,115 per ounce on Monday (March 4), continuing to hit a new high since December 2023. It rose by about $30 on the day and ultimately closed up 1.58% at $2115.82 per ounce; Spot silver ultimately closed up 3.29% at $23.89 per ounce.

Due to the surge in crude oil exports from the Gulf region of the United States offsetting the impact of OPEC+extending the voluntary production reduction period, coupled with the approaching end of winter in the northern hemisphere, crude oil demand has begun to weaken, leading to a decline in international crude oil prices. WTI crude oil maintained a range of volatility in the Asian and European markets on Monday (March 4th), with two unsuccessful attempts to reach the $80 mark. It continued to decline in the US market and ultimately closed down 1.38% at $78.86 per barrel; Brent crude oil barely closed up 0.05% at $83.62 per barrel.