π° Hourly Briefing | 2026-06-07 11:00 CST
PBOC adds gold for 19th consecutive month, reserves hit 74.96M oz; China forex reserves beat expectations at $3.44T; Strong non-farm Payrolls aftermath continues to dominate markets.
π° Hourly Briefing | 2026-06-07 11:00 CST
π Market Snapshot
| Asset | Last Price | Change | % Change |
|---|---|---|---|
| Gold XAUUSD | 4,327.77 | -147.81 | -3.30% |
| WTI Crude USOIL | 91.733 | -2.760 | -2.92% |
β οΈ Markets closed today (Sunday). Data reflects Friday’s close.
Gold: Continued sharp selloff after non-farm Payrolls, open at 4474 β low of 4311, range exceeded $170, closing near 4328.
Crude: Retreated from 95.11 high to 91.17 low, Hormuz Strait tensions outweighed by demand-side concerns.
π₯ Key News This Hour
π΄ Central Bank & Monetary Policy
- PBOC adds gold for 19th consecutive month β May gold reserves reached 74.96 million oz (~2,331.52 tonnes), up 320,000 oz (~9.95 tonnes) month-over-month, maintaining steady accumulation pace.
π‘ Macro Data
- China May forex reserves at $3.442T, significantly beats expectations β Expected $3.411T, prior $3.4105T, up $31.7B (+0.93%) as global macro conditions improved.
- Strong non-farm Payrolls aftermath continues β US May non-farm added 172K jobs vs expectations, prior two months revised up 93K. December rate hike probability surged to 63%, markets re-pricing Fed policy path.
π’ Geopolitics & Industry
- Japan designates Philippines as “top priority” for oil reserve support β Japan plans to survey oil reserve systems across Southeast Asian nations to strengthen regional energy supply chain security.
- Eli Lilly reveals next-gen obesity drug Retatrutide trial results β Beyond weight loss, also alleviates sleep apnea and multiple other conditions, positive for LLY.N.
π§ Outlook
The PBOC’s 19th consecutive month of gold purchases signals an unwavering accumulation strategy.
Against the backdrop of a global central bank rate hike cycle, China’s counter-cyclical gold buying reflects persistent concerns about long-term USD creditworthiness.
China’s forex reserves beat expectations by $31.7B, driven by global asset price rebounds and non-USD currency appreciation effects in May.
However, Monday’s domestic open may face pressure. The combination of strong non-farm Payrolls and rising rate hike expectations puts gold’s $4,300 support in serious jeopardy.
The Hormuz Strait remains a potential oil price trigger. After the US shot down Iranian drones, shipping disruptions remain unresolved β Monday’s open demands close monitoring.
β° Upcoming Key Data
- π Tue 6/9: US April Wholesale Inventories (Final)
- π Wed 6/10: US May CPI β Most critical data of the week β determines whether the rate hike narrative continues to strengthen
- π Thu 6/11: US Initial Jobless Claims