US inflation unexpectedly rose in August, with core inflation up 0.3% month-on-month and 3.2% year-on-year. The data suggests that the Fed will cut rates next week by 25bps rather than 50bps. Markets initially reacted negatively, but US equities later rallied strongly, led by tech stocks. OpenAI is in the news for a new round of funding, valuing the company at USD 150bn. The ECB meets today and is expected to cut rates due to weak demand and low wage growth. Commerzbank rose almost 17% yesterday after UniCredit confirmed reports that it had taken a 9% stake in the company, fuelling takeover speculation. Carsten Menke, Head of Next Generation Research, suggests that gold investors need to be patient before this year's record moves are repeated.

00:00 Introduction by Helen Freer (Investment Writing) 
00:24 Markets wrap-up by Mike Rauber (Investment Writing)
07:47 Gold update: Carsten Menke (Head of Next Generation Research)
11:35 Closing remarks by Helen Freer (Investment Writing) 

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