Morning Brief: August 8

• Gold rose to a record $3,534 per ounce. Gold prices are rising on the news that the United States will impose duties on bars imported from Switzerland weighing 1 kilogram.Kilogram bars are the most common form of trading on Comex, the world's largest gold futures market, and account for the bulk of gold bullion exports from Switzerland to the United States. The customs decision came as a surprise to the industry.

• Russia has offered India a discount of $5 per barrel to continue oil supplies. The discount was offered to Indian buyers amid the threat of secondary sanctions from the United States and pressure from the European Union. Energy resources at the new price are already being offered in Indian ports, although there was no discount a week ago.

• Donald Trump is afraid to impose sanctions against China for its cooperation with Moscow. According to media reports, Trump cannot afford to impose duties on China for fear of disrupting trade negotiations with Beijing. And if the United States was able to impose increased duties against India, which is not going to a meeting in trade negotiations, then it is no longer the case against China. 

• Trump may recognize Russia's control over the new regions. At the upcoming meeting, Putin may propose to Trump to recognize Russia's control over the DPR, LPR, Kherson and Zaporizhia regions. Trump may agree to this in order to end the conflict, calling on Ukraine and its allies to make such a decision. However, Kiev and European countries are likely to oppose this, which could further strain US relations with the European Union.