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Iran's chief negotiator, Qalibaf, stated, "The era of bullying and blackmail is over," and Iran will not "give in."

Iran's chief negotiator, Qalibaf, stated that the United States violated the "Iranian readjustment plan" regarding the Strait of Hormuz.

July 8th - According to media reports, Xiaomi Auto recently launched the brand name "SkyNomad" and the Chinese name "澎程" (Pengcheng), emphasizing a new brand image focused on space and lifestyle, which has attracted considerable attention. According to Tianyancha intellectual property information, Xiaomi Technology Co., Ltd. has applied for registration of multiple "SKYNOMAD" and "澎程" trademarks, covering international classifications such as transportation vehicles, machinery and equipment, and communication services; some of these trademarks have already been successfully registered.

On July 8th, DBS Group Research Department Multi-Asset Strategist Sherilyn Chew stated that the medium-term outlook for gold remains slightly more constructive. On one hand, the launch of a gold clearing infrastructure trial in Hong Kong reinforces the broader theme of continued interest in gold across Asia and should help deepen market accessibility throughout the region over time. On the other hand, amidst discussions about de-dollarization, the People's Bank of China's continued gold purchases highlight sustained demand from the official sector. Both factors provide support for the medium-term demand floor for gold.

Futures Commentary by Everbright Futures: Geopolitical tensions fluctuated, causing overnight spot gold to rise and then fall back, dropping over 1%, while COMEX gold futures fell 1.22%, and SHFE gold rose 0.08%. The situation in the Strait of Hormuz escalated after a Qatari LNG carrier was attacked and caught fire, adding further uncertainty to the US-Iran situation. Crude oil prices surged intraday, inflation expectations rose, and the US dollar index strengthened, putting short-term pressure on gold. The most prominent geopolitical developments last night were: US officials stated that Iran recently fired on three merchant ships in the Strait of Hormuz, an action described as "completely unacceptable"; the US Treasury revoked waivers for Iranian oil sales; and the US military announced the commencement of a strong strike against Iran. The renewed tensions in the Middle East have led to short-term market trading based on inflation and interest rate logic, further impacting gold. Attention should be paid to subsequent geopolitical developments. China's gold reserves stood at 75.44 million ounces at the end of June, an increase of 480,000 ounces (approximately 14.93 tons) month-on-month. At the end of May, gold reserves were 74.96 million ounces, marking the 20th consecutive month of increases and the highest level since October 2023. Recent gold price action has shown a slightly bullish trend within a bottoming range, but the rebound has been weak, indicating that significant divergence between bulls and bears remains amidst the interplay of geopolitical factors and Federal Reserve policies. (This content and opinion are for reference only and do not constitute any investment advice.)

July 8 – The Reserve Bank of New Zealand's Monetary Policy Committee unanimously agreed today to raise the Official Cash Rate (OCR) by 25 basis points to 2.50%. Global oil prices fell significantly with the partial reopening of the Strait of Hormuz. Prices of other petrochemical products also declined. Therefore, short-term inflationary pressures have eased somewhat. However, despite the decline in energy prices, the effects of the energy shock will persist for some time, and the outlook for medium-term inflationary pressures remains uncertain. The current monetary policy stance aims to bring inflation back to the target level while avoiding unnecessary economic instability. The New Zealand economy was on a recovery track before the Middle East conflict, but economic momentum weakened in the June quarter due to the oil price shock. The outlook for medium-term inflationary pressures depends on the extent to which recent cost increases have been passed on to price increases. With inflation still above the target level and economic activity expected to strengthen, further reductions in monetary policy stimulus may be necessary to bring inflation back to the 2% target midpoint. Future interest rate decisions will depend on newly released economic data, price formation behavior, and the impact of the strength of economic activity on medium-term inflationary pressures.

Reserve Bank of New Zealand: There is uncertainty regarding the level of the neutral interest rate.

Reserve Bank of New Zealand: The Monetary Policy Committee has differing views on the inflation outlook.

The Reserve Bank of New Zealand expects domestic economic growth to recover in the September 2026 quarter. Lower fuel prices will support a recovery in consumption.

The Reserve Bank of New Zealand: The committee unanimously agreed that all these upside and downside risks are related to the medium-term inflation outlook and will have a significant impact on the future stance of monetary policy.

Reserve Bank of New Zealand: Annual overall inflation is expected to return to the midpoint of the target by mid-2027.

The Reserve Bank of New Zealand stated that part of the purpose of raising interest rates at this meeting was to avoid unnecessary further easing of financial conditions.

Reserve Bank of New Zealand: Inflation expectations have declined recently as current oil futures prices are priced significantly below the assumptions made in the May statement.

The Reserve Bank of New Zealand: The Monetary Policy Committee reached a consensus today to raise the Official Cash Rate (OCR).

July 8th - Today (July 8th), the Ministry of Civil Affairs held a press conference in Beijing to release the "Guidelines for the Construction and Management of a Three-Tier Urban and Rural Elderly Care Service Network." This aims to create a comprehensive elderly care service network covering urban and rural areas, encompassing home, community, and institutional care, allowing seniors to access professional elderly care services conveniently nearby. The guidelines stipulate the integration of various resources, such as county-level special hardship support service institutions, to establish comprehensive elderly care service management platforms at the county (city, district, banner) level. These platforms will undertake functions such as service demonstration, industry guidance, and resource coordination, promoting smart management and utilizing intelligent devices to accurately profile the conditions and needs of seniors and promptly match services, thereby coordinating the regional development of elderly care services.

Iran's Supreme Joint Military Command: The only safe route for merchant ships and oil tankers in the Strait of Hormuz was designated by Iran.