In recent times, the movements of US short-term interest rate futures have reflected investors' anticipation of changes in Federal Reserve policy. Market analysis indicates that traders widely anticipate the Federal Reserve to keep interest rates unchanged at their next July meeting. However, as concerns about the economic landscape increase, it is expected that in the September meeting, the Federal Reserve will initiate a rate-cutting phase in response to potential pressures on economic growth. This forecast has influenced the short-term fluctuations of spot gold prices and the USD Index DXY, although the volatility was not substantial.