πŸ“Š Market Snapshot

  • Spot Gold (XAUUSD): 4,454.28, down 147.35 (-3.20%) ↓ ｜ Range 4,445.52–4,631.45
  • WTI Crude (USOIL): 82.763, down 0.196 (-0.236%) ↓ ｜ Range 81.642–83.096

πŸ”₯ Key News This Hour

  • Gold plunges 3.2%, breaking below the $4,500 level as risk-off sentiment visibly eases
  • Iran’s deputy FM says there is no rush to reopen the Strait of Hormuz; a former Fed vice chair notes Warsh’s remarks reversed the Fed’s prior logic, with the market now defaulting to rate-hike expectations
  • US Treasury Secretary Bessent’s “economic blitz” on Iran shows limited first-week results, with Iran shrugging off the threat; Iran’s navy chief also pushes back on Trump’s claim that all Iranian naval vessels were destroyed
  • Trump says he will complain to the FCC about NBC host Kristen Welker
  • Tesla officially launches a stripped-down, cheaper Model 3 in Hong Kong and Macau, starting at HKD 205,000 in Hong Kong
  • NASA’s new Roman Space Telescope successfully launches aboard a Falcon Heavy rocket

🧭 Situation Assessment

Gold’s 3.2% one-day plunge is among the sharpest moves this month, and the technical picture has clearly turned weak after breaking below $4,500.

Rising rate-hike expectations are the main force pressuring gold, per the former Fed vice chair’s comments.

Iran remains in geopolitical tug-of-war: Bessent’s pressure has had limited effect, and the Strait of Hormuz question is still unresolved β€” crude is steady for now but geopolitical risk persists.

Overall, we are seeing a “risk-off retreat plus rising rate expectations” combination, which is bearish for gold and neutral-to-bullish for crude with higher volatility.

⏰ Upcoming Key Data

  • Monday: China August official Manufacturing PMI, Germany August CPI (MoM, preliminary), US August Dallas Fed manufacturing index; G20 Finance Ministers and Central Bank Governors meeting begins (through Sep 1)
  • Tuesday: China August Caixin Manufacturing PMI, UK August Manufacturing PMI (final), etc.