Precious metals set the tone for markets at the start of the week with strong buying interest. Silver jumped 2% to trade above $40 per ounce, its highest level since September 2011, supported by firm expectations of a Federal Reserve rate cut this month. 

Gold also rallied, reaching a record high of $3,508 per ounce. Last week’s U.S. inflation data reinforced expectations for monetary easing, fueling safe-haven demand and leaving the metal poised for further upside.

Dollar weakness dominated the currency front. The euro advanced above $1.17, extending August’s 0.8% monthly rise and trading near its strongest level since late July. 

Check out today's analysis to learn what is moving the markets!