Last Friday, non farm payroll data exploded, causing the US dollar index to plummet in the short term and almost erase all of last week's gains, ultimately closing down 0.54% at 97.74. The benchmark 10-year US Treasury yield closed at 4.0770%, and the 2-year US Treasury yield closed at 3.5190%. On Monday morning (September 8th Beijing time) in the Asian market, spot gold traded around $3588 per ounce, with the explosive non farm payroll data strengthening expectations of a Fed rate hike. The probability of a Fed rate cut in September is 100%, with a probability of a 50 basis point cut of 8%, providing support for gold prices. The prospect of further production increase by OPEC+has intensified concerns about oversupply, and international oil prices have fallen for three consecutive days. WTI crude oil maintained a downward trend throughout the day, falling below $62 and ultimately closing down 2.61% at $61.69 per barrel; Brent crude oil ultimately closed down 1.81% at $65.66 per barrel.