Core Viewpoint - The market is cautious ahead of the Federal Reserve's interest rate decision, with silver prices experiencing narrow fluctuations while geopolitical risks continue to support safe-haven buying [1] Group 1: Precious Metals Market Overview - Silver prices surged to $60.47, while gold traded at $4,217 per ounce, with the gold-silver ratio dropping below 70 for the first time in 53 months [1] - London silver prices reached a new high of $61.3, with a year-to-date increase exceeding 110%, significantly outperforming gold [1] - Platinum prices are testing the important level of $1,700 amid increased overall demand for precious metals [1] Group 2: Central Bank Behavior and Economic Factors - Central banks are increasing gold reserves primarily due to its function as a store of value, despite some reduction in purchases from major buyers like China [2] - Geopolitical tensions and economic uncertainty continue to support the gold market, with no significant price pullback expected in the short term [2] - Citigroup predicts that under favorable conditions such as Federal Reserve rate cuts, silver prices could reach $62 per ounce by March next year [2] Group 3: Technical Analysis - For gold, short-term support is at $4,201, with strong support at $4,189, while resistance is noted at $4,220 and $4,265 [3] - Silver is expected to rise further, with the next key resistance at $61.00; however, a bearish divergence is noted [3] - Platinum may gain momentum if prices rise above $1,700, potentially moving towards resistance levels of $1,740 to $1,750 [3]

Core Viewpoint - The ongoing Brexit crisis is unlikely to adversely affect the three million EU migrants living in the UK, despite the political deadlock surrounding the UK's exit from the EU [1] Group 1 - The article discusses the various factions involved in the Brexit debate, including pro-Brexit and pro-EU groups, highlighting the complexity of the situation [1] - It emphasizes the significant presence of EU migrants in the UK, which adds another layer of consideration to the Brexit negotiations [1]

智通财经APP获悉，英国央行货币政策委员会成员梅根·格林表示，劳动力市场需进一步走弱，她才能 支持再次降息。 尽管格林表示，就业市场若趋疲软可能会促使她改变立场，但她也指出，近期有迹象表明劳动力需求已 趋于稳定。 她表示："这种调整已基本成为过去式，表明劳动力市场不会如我一年前担忧的那样即将面临一场大洗 牌。观察职位空缺数据，其数量持续下滑后已呈现企稳态势;而就业增长的核心指标均稳定处于正增长 区间，进一步印证了市场韧性。" 在周一的另一场露面中，英国央行货币政策委员会的另一位委员斯瓦蒂·丁格拉警告了英国脱欧对服务 业的影响。去年，服务业占英国出口总额的一半以上。尽管服务业不受关税影响，但仍面临诸如资格要 求不同之类的障碍。 丁格拉是英国脱欧的直言不讳的批评者，她表示，打造"全球英国"的承诺未能兑现，并引用了聚焦服务 业的新研究。 在伦敦举办的英国贸易政策观察站会议上，丁格拉发表主旨演讲时坦言："五年时间验证了答案是否定 的——英国并未通过脱欧获得全球竞争优势。"她进一步指出："以服务贸易领域为例，这个我们原本最 擅长的领域，市场份额已持续下滑"，随后补充强调，"这是在脱欧后发生的结构性转变。" 格林周一指出 ...

Core Points - The UK Chancellor of the Exchequer, Reeves, has indicated plans to cut public spending and increase taxes in the upcoming November budget to address a fiscal gap partly caused by Brexit [1][2] - Reeves emphasized the need for spending control to achieve fiscal balance, acknowledging the ongoing challenges in convincing Labour MPs to accept welfare cuts [1] - The Office for Budget Responsibility (OBR) has downgraded the UK's productivity growth forecast, which is expected to exacerbate the fiscal shortfall exceeding £30 billion [1] Group 1 - Reeves highlighted that fiscal tightening, Brexit, and the impact of the Truss mini-budget are putting pressure on the UK economy, with a consensus that Brexit has reduced the UK's economic size by 4% [2] - The Chancellor aims to create a "buffer" in the fiscal plan to avoid the annual cycle of tax increases and spending cuts, expressing a desire to end this cycle through economic growth [2] - Last year's budget included £40 billion in tax increases, but Reeves now faces significant fiscal repair tasks again [2] Group 2 - Shadow Chancellor Stride countered that Reeves should focus on controlling government spending, particularly welfare expenditures, rather than increasing taxes [2]

Core Points - Immigration issues are deeply dividing British society, with significant protests occurring in London on September 13, where over 100,000 participated in an anti-immigration rally organized by far-right activists [1][5] - The UK government is planning to implement new immigration policies to end the "open borders" approach, which has led to a net increase of one million immigrants [8][10] - The rise in immigration has sparked concerns over job pressure and security, leading to increased support for anti-immigration parties like the Reform Party [12] Group 1: Protests and Public Sentiment - On September 13, over 100,000 people participated in an anti-immigration protest in London, resulting in clashes with police and injuries to 26 officers [5] - The protests reflect a growing public sentiment against immigration, with the far-right group led by Tommy Robinson gaining significant traction [5][7] Group 2: Government Response and Policy Changes - The UK government, under Prime Minister Starmer, plans to announce a new immigration policy aimed at tightening border controls and addressing public concerns [8][10] - Proposed changes include extending the residency requirement for permanent residency from 5 to 10 years and increasing salary and language requirements for work and family visa applicants [10] Group 3: Broader Context and Implications - The increase in illegal immigration, with over 28,000 crossing the English Channel this year, has become a central political issue in the UK [7] - French President Macron has attributed the rise in illegal crossings to Brexit, suggesting that it has not achieved its intended goal of strengthening border control [13]

Core Viewpoint - French President Macron attributed the record number of illegal crossings of the English Channel to the UK's "Brexit" decision, highlighting a legal vacuum that encourages such activities [1][2][3]. Group 1: Illegal Immigration and Policy Responses - Approximately 20,000 individuals have crossed the English Channel illegally in the first half of 2025, marking a record high for that period [2]. - The majority of these illegal immigrants originate from Africa and the Middle East, with incidents of capsizing leading to fatalities or disappearances [2]. - Macron and UK Prime Minister Starmer announced a pilot plan to combat illegal immigration, which includes a "one in, one out" agreement for the return of undocumented migrants [3]. Group 2: UK-France Relations Post-Brexit - Macron's visit marks the first by an EU leader to the UK since Brexit, indicating a potential thaw in UK-EU relations [4]. - The UK has seen an increase in net immigration post-Brexit, with illegal immigration numbers rising significantly [4]. - The agreement reached during Macron's visit aims to deter illegal crossings and signals a desire for enhanced cooperation between the UK and France on immigration issues [3][4]. Group 3: Broader Geopolitical Context - The visit included discussions on nuclear deterrence coordination and a virtual summit to provide security assurances for Ukraine, reflecting a strategic alignment between the UK and EU amid shifting global dynamics [6]. - The UK government is keen on re-establishing relations with the EU following the tumultuous Brexit process, as evidenced by the recent summit held in May [4].

Core Viewpoint - The immigration issues and illegal crossings in the English Channel reflect the opposite results of the UK's Brexit commitments [1] Group 1 - The statement by French President Macron highlights the unintended consequences of Brexit on immigration [1] - The illegal crossings in the English Channel have increased, contradicting the promises made during the Brexit campaign [1]

Core Points - French President Macron's visit to the UK marks the first visit by a French president since 2008 and the first by an EU leader since Brexit [1] - The UK government aims to "rebuild" relationships with European neighbors post-Brexit [1] Summary by Categories Political Context - Macron's three-day state visit to the UK began on July 8, 2023 [1] - The meeting took place at 10 Downing Street, the official residence of the UK Prime Minister [1] Diplomatic Relations - This visit is significant as it represents a step towards improving UK-EU relations after Brexit [1] - The visit underscores the importance of diplomatic engagement between the UK and France [1]

Core Points - The EU and the UK have reached a political agreement regarding the border arrangements for Gibraltar post-Brexit [1] - The agreement aims to eliminate all physical barriers, checks, and controls on the movement of people and goods between Gibraltar and Spain [1] - Dual border controls will be established at Gibraltar's ports and airports [1] - Negotiation teams will finalize the details of the agreement and initiate the approval process [1]

Group 1 - The Bank of England is focusing more on the S&P Global Purchasing Managers' Index (PMI) and has warned of increased volatility in GDP data [1] - The PMI is viewed as a more stable indicator of economic conditions compared to official GDP data, which showed a strong recovery of 0.7% in Q1 [3] - There are concerns that relying on PMI could lead to misleading conclusions about actual economic growth, as it reflects sentiment rather than concrete growth [3][7] Group 2 - The PMI showed almost zero growth in Q1, with a decline into contraction territory in April due to uncertainty surrounding U.S. tariff policies, before rebounding to flat in May [3] - The services sector, which constitutes the largest part of the UK economy, is showing strong performance despite the PMI's mixed signals [7] - Political events have significantly impacted PMI and other business surveys, often leading to sharp declines, while official data like GDP and unemployment rates have remained stable [7] Group 3 - There is a risk that different indicators are sending conflicting signals about demand, necessitating more time for the Bank of England to understand the driving forces behind economic growth [8]