Weak US inflation dragged the dollar down; gold hit a weekly high.

On Wednesday, due to the overall lower than expected CPI data boosting market expectations of interest rate cuts, the US dollar index plunged during trading and ultimately closed down 0.41% at 98.638. The yield of US Treasury bonds plummeted across the board, with the benchmark 10-year yield closing at 4.427% and the 2-year yield falling below the 4% mark, closing at 3.956%. On Thursday (June 12th) in Asian morning trading, spot gold continued its upward trend, reaching a high of $3373.25 per ounce as of 07:30, setting a new high for the week. This upward trend is not only boosted by lower than expected US inflation data, but also closely related to the sharp escalation of geopolitical tensions in the Middle East. Investors' expectations of the Federal Reserve's September interest rate cut and the potential risk of conflict in the Middle East are driving a surge in demand for gold as a safe haven asset. As Trump expresses his "lack of confidence" in nuclear negotiations with Iran and the United States prepares to reduce the size of its mission in Iraq due to security concerns, international crude oil prices have surged. WTI crude oil continued to rise, ultimately closing up 4.2% at $67.18 per barrel, reaching a new high in over two months; Brent crude oil closed up 4.11% at $69.46 per barrel.