Fed bets on rate cuts amid U.S. inflation, weakening USD and boosting gold.

Last Friday, the US inflation data met expectations, strengthening market bets that the Federal Reserve may continue to cut interest rates later this year. The dollar index fell, once approaching the 98 mark, and finally closed down 0.28% at 98.17, recording two consecutive weekly gains. The benchmark 10-year US Treasury bond yield closed at 4.176%, and the 2-year US Treasury bond yield, which is sensitive to the Fed's policy interest rate, closed at 3.647%. Spot gold closed up 0.3% at $3,761.17 per ounce on Friday, up about 2% for the week, and hit a record high of $3,790.97 during the week. This round of gold bull market not only attracted the attention of institutional investors, but also ignited the enthusiasm of retail investors, with other precious metals such as silver and platinum also hitting multi-year highs. In the face of geopolitical tensions, the Fed's policy shift, and the global trend of de-dollarization, gold's strong performance seems unstoppable. Crude oil fell after rising sharply. WTI crude oil rose to an intraday high of $66.17 during the US trading session, then fell sharply, wiping out all intraday gains, and finally closed down 0.06% at $64.97 per barrel; Brent crude oil finally closed down 0.11% at $68.64 per barrel.