The U.S. dollar may weaken as the market anticipates that the Federal Reserve will cut interest rates due to recession concerns. The market speculates a 100% probability that the Fed will lower interest rates at the September meeting and a 70% probability of a 50 basis point cut.

Additionally, the dollar faces disadvantages due to the U.S. trade deficit narrowing in June to $73.1 billion from a revised $75.1 billion in May, larger than the expected deficit of $72.5 billion.

The September Silver Contract price increased slightly. The settlement price on August 6 was $27.216 per troy ounce, up 0.03% from the previous session.

The October Platinum Contract price increased slightly. The settlement price on August 6 was $920.20 per troy ounce, up 0.51% from the previous session.

The September Copper Contract price increased slightly. The settlement price on August 6 was $4.027 per pound, up 0.7% from the previous session.

Source: Collected from various resources