Gold and silver both fell on the 7th. As of press time, spot gold dropped 0.74% to $4,132.97 per ounce, while spot silver fell 1.39%, testing the $60 per ounce threshold.

On the news front, the Federal Reserve is scheduled to release the minutes of its September meeting in the early hours of October 8 Beijing time (local time October 7). According to the CME "FedWatch" tool, the probability that the Fed will keep interest rates unchanged in October stands at 79.5%, while the probability of a cumulative 25 basis point rate hike is 20.5%. For December, the probability of keeping rates unchanged is 15.5%, the probability of a cumulative 25 basis point hike is 68%, and the probability of a cumulative 50 basis point hike is 16.5%.

In the early morning of October 7 Beijing time, several Fed officials made remarks. Among them, Kansas City Federal Reserve Bank President Jeffrey Schmid stated that given inflation has resumed its upward trend, if the Fed does not continue to take action to bring inflation down to 2%, its credibility would be at risk. San Francisco Federal Reserve Bank President Mary Daly said that AI-related chip demand is increasing and could exacerbate inflationary pressures.