Fed rate cut chances rise, USD strengthens, gold up 5 weeks.

Last Friday, the US dollar index continued its rebound momentum and rose to a intraday high of 97.81 before the US market, ultimately closing up 0.33%. The daily chart recorded three consecutive gains, reaching 97.67. The benchmark 10-year Treasury yield closed at 4.133%, while the 2-year Treasury yield sensitive to the Federal Reserve policy rate closed at 3.584%. Last week, the global gold market once again reached a milestone moment. After the Federal Reserve announced a 25 basis point interest rate cut last Wednesday, spot gold prices surged to a historic high of $3707.40 per ounce. Despite a subsequent volatile pullback, they remained stable at $3684.93 at the end of last Friday, with a weekly increase of 1.15%, achieving their fifth consecutive week of gains. Market analysts generally believe that the bullish tone of gold has not changed due to short-term fluctuations. International crude oil continued to decline as market concerns about a significant decrease in supply and demand exceeded expectations that the Federal Reserve's first interest rate cut this year would stimulate consumption. WTI crude oil continued to decline during the day, ultimately closing down 1.54% at $62.29 per barrel; Brent crude oil ultimately closed down 1.47% at $66.08 per barrel.