The US Dollar continued to weaken, with the USD index falling by 0.56%, reaching a 7-and-a-half-month low due to pressure from dovish comments by the Fed Chairman regarding a potential rate cut at the September FOMC meeting. The drop in the dollar index to its lowest level has boosted the industrial metals sector and supported prices for precious metals.

The September Silver contract saw a significant increase. The settlement price on August 19 was $29.304 per troy ounce, up 1.58% compared to the previous session.

The October Platinum contract saw a slight increase. The settlement price on August 19 was $962.9 per troy ounce, down 0.05% compared to the session of the last week.

The September Copper contract also increased slightly. The settlement price on August 19 was $4.181 per pound, down 0.89% compared to the previous session.

Source: Collected from various sources