Fed rate cut hopes fade, USD rebounds, risking gold at $4000.

On Monday, thanks to the cooling expectation of the Federal Reserve's December interest rate cut, the US dollar index continued to rebound, ultimately closing up 0.272% at 99.53; The yield on US Treasury bonds remained stable, with the benchmark 10-year bond yield closing at 4.143% and the 2-year bond yield sensitive to the Federal Reserve policy rate closing at 3.619%. On Monday (November 17th), spot gold plummeted nearly 2%, hitting a low of $4006.80 per ounce and closing narrowly around $4045. There is only one culprit: the Federal Reserve's expectation of a rate cut in December further cooled down, and the US dollar index rebounded strongly by 0.25% to 99.54. As the US dollar rises, gold denominated in US dollars immediately becomes more expensive for holders of other currencies around the world, leading to a significant decrease in buying demand. With the resumption of oil exports from the Novorossiysk port in Russia after a two-day suspension, international crude oil opened lower. WTI crude oil once again failed to challenge the $60 mark during trading, and ultimately closed down 0.13% at $59.74 per barrel; Brent crude oil ultimately closed down 0.38% at $63.71 per barrel.