Core Viewpoint - The performance of the British pound is primarily influenced by the US dollar and market risk sentiment, with no significant UK data releases impacting its movement [1] Group 1: Market Analysis - MonexEurope reports that the upcoming US inflation report is a potential catalyst for GBP/USD movement [1] - The company maintains a neutral stance, expecting the pound to remain within a range while monitoring the forthcoming UK autumn budget, which is seen as a key domestic catalyst [1] Group 2: Long-term Outlook - MonexEurope suggests that the Bank of England may consider an interest rate cut in December, earlier than the market's current expectations, which could diminish the pound's relative strength in terms of interest rates [1]

Core Viewpoint - The British pound is primarily influenced by the US dollar and market risk sentiment, with upcoming US inflation data being a potential catalyst for GBP/USD movements [1] Summary by Relevant Sections Market Influence - The pound's performance is affected by the dollar's movements and overall market risk sentiment, especially in the absence of significant UK data releases [1] Upcoming Events - The US inflation report scheduled for Thursday is anticipated to impact the GBP/USD exchange rate [1] - The UK autumn budget is highlighted as a key domestic catalyst for the pound [1] Future Outlook - Monex Europe suggests that the Bank of England may lower interest rates as early as December, which is sooner than market expectations, potentially diminishing the pound's relative interest rate advantage [1]

Group 1 - The core point of the article is that gold prices fell due to unexpected high inflation data from the US, with December 2025 gold futures dropping by $26.0 to $3382.3 per ounce, a decrease of 0.76% [1] - The US Producer Price Index (PPI) for July increased by 0.9% month-on-month, significantly higher than June's zero growth and market expectations of 0.2%, marking the largest increase since June 2022 [1] - Year-on-year, the PPI rose by 3.3%, surpassing June's 2.3% and market expectations of 2.6%, representing the highest level since February of this year [1] Group 2 - Following the inflation report, US stock markets weakened, while the dollar and long-term US Treasury yields increased, slightly reducing market expectations for a 25 basis point rate cut by the Federal Reserve in September [1] - The US labor market showed resilience, with initial jobless claims for the week ending August 9 decreasing by 3,000 to 224,000, lower than the market expectation of 228,000 [1] - The dollar index jumped approximately 25 points after the data release, surpassing the 98 mark, while gold prices significantly declined, reaching an intraday low [1] Group 3 - Silver futures for September delivery also fell, decreasing by $0.567 to $38.035 per ounce, a decline of 1.47% [2]

Group 1 - Recent gold futures contracts on the New York Mercantile Exchange fell nearly 2.5%, dropping below $3,400 per ounce, marking the largest decline since May [1] - President Trump announced that gold would not be subject to tariffs, alleviating market concerns regarding potential tariffs on imported gold bars [3] - The U.S. has imposed a 39% tariff on products imported from Switzerland, which plays a significant role in the international gold futures market due to its substantial gold reserves [4] Group 2 - The demand for gold as a safe-haven asset has weakened due to the potential ceasefire in the Russia-Ukraine conflict, with investors closely monitoring upcoming U.S. inflation reports [4] - Recent developments in the trade war, including new tariffs on multiple trade partners, have been a significant factor driving gold prices up this year [5] - Traders are increasingly betting on a 25 basis point rate cut by the Federal Reserve in September, with a probability of 89.4% according to the FedWatch tool [4]

Group 1 - LME copper prices fell on August 11 due to the approval of partial resumption of operations at Codelco's El Teniente mine and a strengthening dollar, with three-month copper closing at $9,731.5 per ton, down $30.5 or 0.31% [1] - Codelco announced that Chilean regulatory authorities have approved the reopening of parts of the El Teniente mine that were not affected by the July 31 collapse, alleviating supply concerns in the market [3] - The LME reported a significant inflow of Chinese copper and Indian aluminum into registered warehouses in July, reducing the market share of Russian copper and aluminum [3] Group 2 - Other base metals also experienced declines, with three-month aluminum down $21.00 to $2,588.00, three-month zinc down $5.00 to $2,822.00, and three-month lead down $9.50 to $1,998.00 [2] - In contrast, three-month tin increased by $181.00 to $33,805.00, and three-month nickel rose by $195.00 to $15,351.00, indicating mixed performance across different metals [2] - The market is awaiting the upcoming U.S. inflation report, which may provide insights into the Federal Reserve's interest rate decisions [3]

Core Points - President Trump announced that there will be no tariffs on imported gold bars, leading to a significant drop in international gold prices, which fell over 2% on the same day, marking the largest decline in nearly three months [1][2] - The recent volatility in gold prices was influenced by the uncertainty surrounding tariffs and the potential impact on the gold market, with futures contracts experiencing a nearly 2.5% drop, falling below $3,400 per ounce [2][3] - The market is closely monitoring upcoming U.S. inflation reports, as a weaker-than-expected employment report has increased bets on a potential interest rate cut by the Federal Reserve in September [4] Market Reactions - Following the announcement of no tariffs, gold prices initially surged to a record high of $3,534.10 per ounce before retreating as the White House planned to clarify tariff-related misinformation [2] - The COMEX inventory levels are currently at 86% of open contracts, significantly higher than the normal range of 40%-45%, indicating no liquidity issues in the market [3] - Analysts suggest that the elimination of tariff uncertainty may lead to a more bearish outlook for gold prices, especially if upcoming inflation data exceeds expectations [4] Trade and Economic Factors - The ongoing trade tensions and recent tariff announcements by the U.S. government are expected to influence gold prices, with the market reacting to the potential for new tariffs on various goods, including pharmaceuticals [4] - The anticipated meeting between President Trump and President Putin regarding the Ukraine conflict is also seen as a factor that could affect gold prices, as hopes for a ceasefire may reduce safe-haven demand for gold [5][6]