Daily Market Report
➢ Gold tumbles below $4,600 as markets hold their breath ahead of Fed Chair Warsh’s Jackson Hole speech, the most anticipated event of the week.
➢ Silver slips below $69.00 ahead of Warsh’s speech, with precious metals broadly under pressure as uncertainty over the Fed’s tone intensifies.
➢ The USD steadies above 99.00 as markets position cautiously before Warsh’s remarks, with the dollar sensitive to any hawkish or dovish surprise.
➢ Iran is preparing a list of conditions to reopen the Strait of Hormuz, signalling talks are progressing but a swift resolution remains unlikely.
➢ WTI holds above $82.50 as rising UK-Russia tensions introduce a fresh geopolitical risk to global oil supply beyond the Middle East.
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