Fed downplays rate cuts, US dollar surged, gold consolidated.

On Wednesday, due to strong US economic data and Powell's wait-and-see stance, the US dollar index rose for the fifth consecutive trading day, approaching the 100 integer mark, and finally closed up 1.04% at 99.92, hitting a new high in over two months. The yield of US Treasury bonds has risen across the board, with the benchmark 10-year yield closing at 4.379% and the 2-year yield closing at 3.951%. The gold market experienced 'Black Wednesday', with spot gold prices falling more than 1.5% in a single day, hitting a intraday low of $3268.02 per ounce, setting a new low since June 30th. The Federal Reserve's decision to keep interest rates unchanged, Powell's hawkish speech suppressing expectations of interest rate cuts, and the unexpected economic data released by the United States collectively constitute a “perfect storm” for the decline in gold prices. At the same time, the US dollar index rose strongly by about 1%, reaching its highest point of 99.99 since May 29th, further intensifying the pressure on gold. As investors focus on Trump's more urgent ultimatum to Russia and his tariff threat to oil trading countries, international crude oil prices have risen for three consecutive days. WTI crude oil hit the $70 mark in the market, ultimately closing up 1.32% at $69.79 per barrel; Brent crude oil ultimately closed up 1.18% at $72.6 per barrel.