The Federal Reserve maintains its expectation of interest rate cuts unchanged, and the US dollar saw a significant decline on Wednesday Gold surged over $60, reaching a new historical high

On Wednesday (March 20th), the US dollar index accelerated its decline and ultimately closed down 0.40% at 103.4 due to increased interest rate cuts after the Federal Reserve's interest rate decision was released. The benchmark 10-year Treasury yield closed at 4.2730%, while the 2-year Treasury yield, which is most sensitive to the Federal Reserve's policy rate, closed at 4.6040%.

Due to the expected recovery of the Federal Reserve's interest rate cut and the weakening of the US dollar index, spot gold rose significantly on Wednesday (March 20), approaching the 2190 mark and ultimately closing at 1.32% at $2185.80 per ounce; Spot silver ultimately closed up 2.71% at $25.57 per ounce.

Due to demand concerns continuing to put pressure on oil prices, WTI crude oil closed down 1.31% on Wednesday (March 20) at $81.36 per barrel; Brent crude oil closed down 1.19% at $86.13 per barrel.