Spot silver rose more than 1.0% intraday to $70.72/oz. Spot gold traded above $4,360/oz, up 0.67% on the day.

Rabobank strategist Jane Foley warns sterling could weaken if the Bank of England signals caution on further hikes and a Thursday by-election raises political risk. Wednesday’s softer-than-expected UK inflation print has heightened debate over whether the BoE will extend a wait-and-see stance. A win for Andy Burnham could prompt a challenge to Keir Starmer; Burnham’s leftward stance and the prospect of replacing fiscally conservative Reeves may unsettle the gilt market and disrupt sterling.

Trump said Greenland was not discussed at the G7 but should have been.