U.S. Indexes saw modest pressure on Monday amid relatively quiet newsflow, with the Russell 2000 leading the downside while the equal-weight S&P 500 (RSP) finished little changed, pointing to relatively flat underlying breadth. On a sector basis, Energy heavily outperformed as crude prices climbed, while Real Estate, Utilities and Technology lagged. The gains in oil largely reflected continued geopolitical uncertainty in the Middle East. The situation surrounding the Strait of Hormuz remains fluid, with repeated suggestions that progress is being made but little concrete evidence of a breakthrough. President Trump said the US is only “semi-negotiating” with Iran, while Iran’s Supreme National Security Council issued six demands for reopening Hormuz, including full compensation, sanctions relief, the release of frozen assets, an end to the blockade and the withdrawal of US forces from the region. Trump, however, said the US also wants compensation from Iran for damages, potentially complicating negotiations further. Elsewhere in the Gulf, Saudi Arabia extinguished a fire at its Jazan facility early on Sunday, while Yemen’s Houthis claimed responsibility for the attack. Treasury yields rose across the curve alongside higher oil prices, retracing a chunk of Friday’s post-NFP decline as renewed energy-price pressures lifted inflation concerns. Markets continue to see a September rate hike as roughly a coin toss, leaving Wednesday’s CPI report as the next major catalyst for Fed expectations. Fed Member Hammack (2026 voter, hawkish dissenter) added to the hawkish backdrop, suggesting more than one rate hike may be required and arguing that action should be taken sooner rather than later, while maintaining that the economy remains around full employment. Despite higher Treasury yields and a firmer Dollar, precious metals rallied, with Gold testing USD 4,400/oz to the upside. The resilience despite typically unfavourable moves in rates and FX suggests continued demand for precious metals amid elevated geopolitical uncertainty. In FX, the Pound and Dollar outperformed, while the Japanese Yen was the clear laggard despite a series of hawkish domestic developments, including source reports suggesting a September Bank of Japan rate hike is increasingly likely, further official jawboning and a hawkish-leaning BoJ Summary of Opinion. Elsewhere, Oil surged 5% while Gold ended Monday’s session with a 1.2% rise.
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For anyone following my Platinum Service it made 210 points yesterday and is now ahead by 230 points for August after closing July with a gain of 8031 points, after ending June with a new record of 10527 points after ending May with a loss of 1104 points, having ended April with a gain of 1730 points, after ending March with a massive gain of 9002 points, having closed February with a strong gain of 5482 points after ending January with a gain of 4757 points, having closed December with a gain of 2599 points, after ending the month of November with a gain of 4542 points, after ending October with a nice gain of 5110 points after closing September with a gain of 3774 points while ending August with a gain of 3362 points after closing July with a gain of 3753 points after closing June with a gain of 3530 points, having closed May with a gain of 3606 points, after closing April with a gain of 7685 points after closing March with a gain of 2254 points while closing February with a gain of 4180 points. January ended with a gain of 2768 points while 1997 points were gained in December. October ended with a gain of 2179 points, after closing September with a gain of 4402 points, following a loss of 301 points in August. July gained 1908 points while June saw a gain of 2074 points. The Platinum Service made a previous record 9619 points in October 2022. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 2300 points. I have a YouTube Channel which contains recent interviews I have given This can be viewed by clicking HERE Please subscribe to this for new interview notification
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