Traders expect more Fed rate cuts, with the US dollar falling and gold pulling back.

On Wednesday, dragged down by expectations of interest rate cuts boosted by speeches from Federal Reserve officials, the US dollar index fell and ultimately closed down 0.56% at 98.17. The yield of US Treasury bonds fluctuated, with the benchmark 10-year bond yield closing at 4.232% and the 2-year bond yield closing at 3.72%. On Wednesday (August 6th), the gold market presented a complex situation amidst multiple factors: spot gold prices slightly fell due to profit taking, market expectations for the Federal Reserve's September interest rate cut significantly increased, the Trump administration's tariff measures on countries such as India and Switzerland triggered geo economic tensions, and attention to personnel adjustments at the Federal Reserve further intensified market uncertainty. Due to Trump's statement that the US Russia talks were productive, which sparked uncertainty about the implementation of new US sanctions against Russia, international crude oil prices fell for the fifth consecutive trading day. WTI crude oil fell below the $64 mark and ultimately closed down 1.48% at $63.6 per barrel, hitting a two month low; Brent crude oil ultimately closed down 1.36% at $66.43 per barrel.