📊 Market Snapshot

  • Spot Gold (XAUUSD): 4174.66 (+1.18%), intraday range 4122.72–4195.44, risk-off sentiment pushes gold above 4170
  • WTI Crude (USOIL): 68.73 (+0.45%), intraday range 68.05–69.23, oil modestly higher
  • ⚠️ Sunday Asian session — major global markets closed; data reflects Friday’s closing prices

🔥 Key News This Hour

🇺🇸 US 250th Anniversary Celebration Trump has arrived at the National Mall in Washington to attend the celebration, expected to deliver remarks around 11:00 Beijing time. Trump stated he “will speak no matter what” and won’t let rain disrupt the event.

🇮🇷 Iran Situation Khamenei’s funeral continues, with Yemen’s Vice Premier, a Hamas delegation, and a Serbian delegation arriving in Tehran to meet with Iran’s Foreign Minister. Trump confirmed both sides will refrain from hostilities until the funeral concludes.

🇨🇳 China Data June logistics prosperity index rose to 50.6%, up 0.4 percentage points MoM, with balanced growth across all regions. Domestic flight fuel surcharges lowered starting today, with cuts of up to 50 yuan per segment.

📜 Trump Deregulation Push The Trump administration plans to repeal an additional 702 federal regulations, setting a new record for deregulatory measures in a White House semi-annual regulatory agenda.

⚓ Geopolitical Developments China-Russia “Joint Sea-2026” exercises to be held in July near Qingdao, followed by joint patrols in the Pacific. China-UK joint feasibility study on a services trade agreement made substantive progress in London.

🧭 Situation Assessment

Gold breaks above the 4170 level — while the Middle East sees a temporary ceasefire during Khamenei’s funeral, uncertainty remains extremely high, with safe-haven buying supporting gold prices.

Crude oil oscillates narrowly in the 68-69 range, with Iran beginning to engage Japanese buyers under the 60-day US sanctions waiver, creating marginal expectations of supply easing.

Focus this week: Trump’s remarks during the US 250th anniversary could touch on sensitive topics including tariffs and Middle East policy — rhetorical risk should not be underestimated.

After weak nonfarm payrolls, rate hike expectations are fading; combined with major short-seller warnings on the AI sector, tech sentiment faces a test.

⏰ Upcoming Key Data

  • Week of Jul 6-12: FOMC June Minutes (Thu early AM), US CPI (Fri)
  • No major economic data releases today (Sunday)