U.S. consumers continue to show resilience

This might lead the Federal Reserve to stay on hold for a longer period

but the market's concern about strong personal spending caused policymakers to remain cautious about lowering interest rates. The U.S. Dollar Index rebounded after the PCE data release, nearly recovering the day's losses, and finally closed down 0.023% at 103.46, marking four consecutive weeks of gains; the yield on the 10-year U.S. Treasury note accelerated during the U.S. trading session, closing at 4.139%; the yield on the 2-year U.S. Treasury note, more sensitive to Fed policy rates, closed at 4.357%.

As market expectations for a rate cut cooled, spot gold prices fell, losing the $2020 threshold again, and finally closing down 0.12% at $2018.49 per ounce, marking the second consecutive week of decline. Spot silver also closed down 0.49% at $22.8 per ounce.

Due to positive economic news from the world's two largest economies, fueling hopes for stronger oil demand this year, coupled with concerns about supply disruptions intensified by Houthi militants hitting a British oil tanker, international crude oil prices rose to a two-month high, marking the largest weekly gain since the outbreak of the Israel-Hamas war. WTI crude closed up 1.4% at $78.05 per barrel; Brent crude closed up 1.7% at $83.64 per barrel.