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At present, Copper is trading above its Neutral Zone for today; all the other BEGOS Markets remain within theirs. Session volatility is expectedly light ahead of July’s PCE data (12:30 GMT), which shall be a key determinant for the FOMC’s 17 September rate decision. A reduced “core” reading of +0.2% would likely spike the Spoo to further record levels, whereas a +0.4% print would initiate selling; consensus calls for +0.3%.

The S&P 500 yesterday settled above 6500 (6501.86) for the first time, albeit MoneyFlow for the session was actually negative (see S&P MoneyFlow). The futs-adjusted “live” P/E is now 46.0x.

Silver appears to be making a bid to trade at $40/oz., a level not seen since 21 September 2022; indeed, Silver’s “high if an up day” for this session is 40.26. More on Silver will follow in tomorrow’s 824th consecutive Saturday edition of The Gold Update.

In addition to the PCE, the Econ Baro also awaits July’s Personal Income/Spending, along with August’s Chicago PMI and the revised University of Michigan Sentiment Survey.

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