Gold futures trade near $3,700 after PPI inflation data comes out lower than expected, strengthening the case for interest-rate cuts. The CME's FedWatch Tool indicates a 90% probability of a 25 basis point rate cut at the September 16-17 meeting, which falls after the Fed's external communications blackout ends. Additionally, Platinum futures surged more than 2% as the global market is headed for a third consecutive annual deficit in 2025, with demand outpacing supply.