Fed rate cut odds dropped, boosting the US dollar. Gold surged $4130, then fell $60.

On Wednesday, boosted by safe haven sentiment and expectations that the Federal Reserve may remain inactive in December, the US dollar index strengthened for the fourth consecutive trading day, reaching the 100 mark and setting a new high in nearly two weeks, ultimately closing up 0.544% at 100.13; US Treasury yields generally rose, with the benchmark 10-year Treasury yield closing at 4.142% and the 2-year Treasury yield sensitive to the Federal Reserve policy rate closing at 3.602%. On Wednesday, the gold price surged and fell back, with a peak of 1.6% in early trading, reaching a high of $4132.66 per ounce. However, as the US dollar index continued to rise, the market felt like it had been poured with cold water, and the gold price quickly fell back. The minutes of the Federal Reserve meeting tended to be hawkish, and the US dollar index broke the high of nearly two weeks, continuing to suppress the morale of gold bulls. The gold price finally closed up only 0.25%, at $4077.79 per ounce. On this trading day, the market's attention will shift to the September non farm payroll report for the United States. Affected by the news of the United States' renewed push for Russia Ukraine peace talks, international crude oil prices plummeted during trading. WTI crude oil fell below the $60 mark and ultimately closed down 1.96% at $59.4 per barrel; Brent crude oil ultimately closed down 1.89% at $63.26 per barrel.