The US dollar index on Wednesday recovered from a 1-week low and rose by 0.01%. The US July CPI report on Wednesday strengthened the outlook that the Fed might cut interest rates by 50 basis points at the upcoming September FOMC meeting.

Investors heavily sold off precious metals following the July Consumer Price Index (CPI) report from the US Department of Commerce.

The September Silver Contract price fell sharply. The settlement price on August 14 was 27.339 USD/troy ounce, down 1.61% from the previous session.

The October Platinum Contract price declined significantly. The settlement price on August 14 was 929.6 USD/troy ounce, down 1.72% from the previous session.

The September Copper Contract price decreased slightly. The settlement price on August 14 was 4.04 USD/pound, down 0.28% from the previous session.

Source: Collected from various resources