贵金属市场：美PPI超预期致调整，降息预期降温

Group 1 - The core viewpoint of the article highlights a significant adjustment in the precious metals market due to the unexpectedly high U.S. PPI, which reignited inflation concerns and weakened expectations for interest rate cuts by the Federal Reserve [1] - The U.S. July PPI increased by 3.3% year-on-year, surpassing the previous value of 2.3% and the forecast of 2.5%, marking the highest level since February of this year [1] - The CME "FedWatch" tool indicates a 92.1% probability of a 25 basis point rate cut in September, while the likelihood of maintaining the current rate is only 7.9% [1] Group 2 - SPDR Gold ETF holdings decreased by 2.86 tons to 961.36 tons, while iShares Silver ETF holdings fell by 28.25 tons to 15,071.31 tons [1] - SHFE silver inventory decreased by 15.7 tons to 1,150.8 tons, and SGX silver inventory dropped by 64.5 tons to 1,304.5 tons as of the week ending August 8 [1] - The focus of investors is shifting towards the upcoming Jackson Hole global central bank conference, where interest rate cut prospects and succession issues will be discussed [1]