The US dollar weakened as Fed rate cut hopes grew, and gold hit a one-week high.

On Wednesday, the US dollar index showed a downward trend, approaching the 100 mark at one point during trading, but then quickly turned downwards, ultimately closing down 0.237% at 99.57; The yield of US Treasury bonds fluctuated, with the benchmark 10-year bond yield closing at 3.997% and the 2-year bond yield sensitive to the Federal Reserve policy rate closing at 3.483%. On Wednesday, spot gold prices rose strongly, hitting a new high of over a week and closing at $4163.78 per ounce, an increase of 0.8%. At one point, they reached a peak of $4173.31 during trading. The main reason behind this upward trend is the sharp rise in market expectations for the Federal Reserve's December interest rate cut. Most institutions predict that the average price of gold will exceed $4000 by 2026 (currently around 3320). Deutsche Bank has raised its gold forecast for 2026 from $4000 to $4450. International crude oil followed the rise of risky assets, rebounding slightly from the one month low hit the previous trading day, and the market showed typical characteristics of thin trading volume before the Thanksgiving holiday. WTI crude oil fluctuated and rose, ultimately closing up 0.67% at $58.48 per barrel; Brent crude oil ultimately closed up 0.71% at $62.41 per barrel.