πŸ“Š Market Overview

Spot Gold XAUUSD: $4,190.50/oz (up 2.78% intraday, high $4,192.59) WTI Crude USOIL: $75.25/barrel (up 1.23% intraday, high $75.79)

The dollar and Treasuries continue to decline, driving precious metals sharply higher. Spot silver up 4% intraday at $61.91/oz.

πŸ”₯ Key News This Hour

1. Fed Chair Warsh’s “Refusal to Communicate” Triggers Market Upheaval

Warsh’s lack of policy communication has caused long-end Treasury yields to surge, with Wall Street questioning his anti-inflation resolve. A policy transparency crisis continues to ferment.

2. Shopify Soars 33.8% Pre-Market

Q2 revenue beat expectations, with the company projecting Q3 revenue growth of “low 30%+,” far exceeding market estimates. Pre-market gains expanded from 20% to 33.8%.

3. Gold Breaks Above $4,190, Silver Up 4%

The dollar and Treasuries continue to decline, with international gold rebounding nearly 100 points. Market concerns over Fed policy transparency are driving safe-haven assets higher.

4. US-Iran Negotiation Signals Emerge

Market optimism grows regarding improved US-Iran negotiation prospects, with geopolitical risk premiums easing.

5. Yemen Mocha Area Incident

The UK Maritime Trade Operations office received a report of an incident 9 nautical miles off the Mocha area in Yemen on August 4. Red Sea shipping safety remains a concern.

6. Macron: EU Continues Support for Ukraine

French President reaffirmed that the EU and partners will continue to strengthen military support for Ukraine and increase sanctions pressure on Russia.

7. Novo Nordisk CFO Statement

The company is ahead of schedule on its DKK 8 billion cost savings target through a company-wide transformation. Wegovy injection pricing dynamics in the US remain unchanged from the beginning of the year.

🧭 Market Assessment

Fed Chair Warsh’s “silence strategy” is backfiring on market confidence. The sharp volatility in long-end yields reflects deep investor uncertainty about the policy path.

Dollar weakness and declining Treasuries are providing strong support for precious metals, with gold’s momentum to break new highs above $4,190 still intact.

Shopify’s 33% pre-market surge is the most notable single-stock event of the day. Q3 revenue guidance of 30%+ growth is extremely impressive in the current macro environment.

US-Iran negotiation signals and the Yemen incident are emerging simultaneously, presenting a mixed geopolitical landscape.

Before the US market open, close attention should be paid to whether Fed officials offer supplementary statements to ease market concerns about policy transparency.

⏰ Upcoming Key Data

  • Tonight 21:30 CST (US market open): Watch market reaction to the Warsh incident
  • Thursday: US initial jobless claims (routine data)
  • Ongoing: Fed officials’ speaking schedule