Group 1: U.S. Labor Market and Economic Outlook - The U.S. non-farm payroll data for July showed a surprising drop, with only 73,000 jobs added, significantly below the expected 104,000, and the unemployment rate rose from 4.1% to 4.2% [3] - The U.S. Bureau of Labor Statistics revised down the employment figures for May and June, with May's job additions adjusted from 144,000 to just 19,000, and June's from 147,000 to 14,000, resulting in a total reduction of 258,000 jobs for those two months [3] - The private sector added 83,000 jobs in July, while federal government employment decreased by 12,000, indicating ongoing layoffs across various sectors [3] Group 2: Federal Reserve and Interest Rate Expectations - The market has renewed expectations for a potential interest rate cut by the Federal Reserve in September following the disappointing employment data [1][4] - Internal divisions within the Federal Reserve have increased, particularly with the upcoming departure of board member Kugler, which has raised concerns about the independence of the Fed's policy [4] - The overall sentiment in the market is leaning towards a more optimistic view on interest rate cuts if the unemployment rate continues to rise unexpectedly [1][4] Group 3: Global Trade and Tariff Developments - The global trade situation has stabilized, with the U.S. reinstating "reciprocal tariffs" on August 7 and reaching preliminary agreements with several economies, including the EU and South Korea [2] - Ongoing U.S.-China trade talks have shown progress, with a consensus to extend certain tariffs and countermeasures for an additional 90 days [2] - The reduction in tariff uncertainties has contributed to a decrease in market risk aversion [2] Group 4: Precious Metals Market - The decline in interest rates and the drop in the U.S. dollar index have positively impacted precious metal prices, particularly gold [1] - Short-term gold prices may remain in a range-bound pattern, but there is potential for a breakout due to rising interest rate cut expectations and geopolitical uncertainties [1][4] - Silver prices are expected to follow gold trends but may exhibit greater volatility due to domestic macroeconomic policies [4]