πŸ“Š Market Snapshot

  • Spot Gold (XAUUSD): 4662.38, +1.28% on the day (high 4670.03), holding firmly above 4660
  • WTI Crude (USOIL): 85.12, -1.37% on the day, easing back toward the $85 level

πŸ”₯ Key News This Hour

  • US-Canada tariff talks collapse, US blames Canada: USTR Greer says Canada raised demands at the final stage and “wanted more”; he will meet with a Mexican delegation this week to discuss trade
  • US to expand secondary sanctions on Iran: Reuters sources say Treasury will impose secondary sanctions on any activity touching specified Iranian sectors; Bessent expected Monday to unveil the “largest financial offensive” against Iran, as Trump says Iran is “collapsing completely”
  • PDD earnings call warns of EU tariff impact: EU tariff changes will significantly affect cross-border operations in the near term, with lower fulfillment efficiency and higher costs on affected-market orders; mid-to-long term it will expand local goods supply
  • Houthis preview military action: Yemeni armed forces expected to issue a statement announcing a series of military operations (fresh Red Sea uncertainty)
  • Libya NOC signs production-sharing deal with Chevron: part of a tender round, adding supply-side signals to crude
  • Broker moves: Wells Fargo raises Marvell (MRVL) target to $310 (Overweight); Morgan Stanley raises Dell (DELL) target to $434 and cuts HP (HPQ) to $17

🧭 Situation Assessment

The collapse of US-Canada talks plus expanded Iran sanctions raises both trade and geopolitical uncertainty.

Gold holds firmly above 4660, with safe-haven buying pushing gains to 1.28% on the day.

Oil retreats against the trend, with the Libya supply deal capping geopolitical premium as bulls and bears battle.

If the wider Iran sanctions land, energy and shipping risk premiums still have room to rebound β€” stay alert.

⏰ Upcoming Key Events

  • Marvell (MRVL) earnings approaching (Wells Fargo notes the company is preparing to report its latest quarterly results)
  • 8/28: Surya Technology STAR Market IPO preliminary inquiry
  • 8/31: Surya Technology final offering price set