Rate cut confirmed, USD falls, gold rebounds.

On Wednesday, as investors were largely certain that the Federal Reserve would cut interest rates in September, the US dollar index fell for the second consecutive trading day and fell below the 98 level, ultimately closing down 0.28% at 97.75; The benchmark 10-year US Treasury yield closed at 4.245%, and the 2-year US Treasury yield closed at 3.683%. On Wednesday, the rebound of spot gold prices was hindered, and it briefly hit the $3370/ounce mark during trading, ultimately closing at $3355.90/ounce, an increase of 0.24%. US Treasury Secretary Besant believes that the Federal Reserve is likely to cut interest rates by 50 basis points in September. The market has reached a general consensus on the Federal Reserve's interest rate cut in September, which has promoted the continued weakening of the US dollar index and the decline in the yield of US treasury bond bonds, providing support for gold prices. However, the sustained record highs in the US stock market and the potential easing of geopolitical tensions have to some extent suppressed the safe haven demand for gold. Due to the pessimistic supply guidance released by the IEA and the continued threat from US President Trump to Russian President Putin, oil prices have hit a new low in over two months. WTI crude oil continued to decline during the day, but rebounded slightly during the US trading session, ultimately closing down 0.6% at $62.08 per barrel; Brent crude oil ultimately closed down 0.55% at $65.34 per barrel.