Internet reports that the European Central Bank cut interest rates by 25BP as scheduled, the seventh time in the past year. Note that this decision was unanimously adopted. In addition, Trump urged the Federal Reserve to cut interest rates long overdue, as the European Central Bank did. The latest CME "Fed Observation" data shows that the probability of keeping interest rates unchanged in May is 86.3%, the probability of cutting interest rates by 25 basis points is 13.7%, and the probability of keeping interest rates unchanged in June is 38.2%. The cumulative probability of cutting interest rates by 25 basis points is 54.1%, and the cumulative probability of cutting interest rates by 50 basis points is 7.6%. Overall, loose monetary policy and severe global trade situation have become two major factors supporting gold prices in the near future. (Jin Shi)