πŸ“Š Market Snapshot

  • Spot Gold (XAUUSD): 4150.75 (-0.58%), intraday high 4202.79, low 4144.81
  • WTI Crude (USOIL): 69.00 (-0.14%), intraday high 69.47, low 68.40
  • Nikkei 225: 69737.69 (-0.01%), opened higher then erased all gains
  • KOSPI: 8051.33 (-0.46%), reversed from near +3% at open

πŸ”₯ Key News This Hour

Gold Cools: JPMorgan Slashes Target to $4,500 JPMorgan cut its Q4 gold price target from $6,000 to $4,500, becoming the most cautious among major banks. Spot gold currently at $4,150.75, down 0.58% on the day. The bank sees limited upside in H2 but acknowledges current levels offer some support.

SK Hynix Files Record $29 Billion US IPO for July 10 The Korean chip giant will list on Nasdaq on July 10, raising $29 billion β€” potentially the largest foreign company IPO in history. The AI chip war has officially reached Nasdaq.

NVIDIA Kyber NVL144 Rack-Scale AI Delayed Over 12 Months NVIDIA’s rack-scale AI architecture Kyber NVL144 has been delayed by more than 12 months, with delivery now pushed to 2028. The bottleneck is PCB manufacturing β€” AI-driven high-end MLCC demand is surging, and TrendForce warns of rising shortage risk in H2 2026.

OPEC+ to Boost Output by 188K bpd in August, Oil Under Pressure Fitch Ratings flagged downside risks to its 2026 base-case oil price assumptions. India has lifted natural gas supply restrictions as Middle East LNG supply recovers. Iran’s “Strait card” is rapidly losing value.

Trump Approval Drops to 36% as Voters Question Iran Conflict A new poll shows 58% of voters believe military action against Iran was not worth it. $67 billion in new military spending and high oil prices are dragging down approval, improving Democratic midterm prospects.

Japan-Korea Stocks Give Back Gains; TWD Hits Late-March Low Nikkei 225 closed -0.01%, KOSPI -0.46% after opening near +3%. TWD fell 0.5% to 32.078, lowest since March 31; Indonesian rupiah breached 18,000 for the first time since June 10.

🧭 Market Outlook

Gold faces headwinds from downgraded bank targets, but the 4150 level offers some technical support β€” watch whether 4140 holds.

OPEC+ consecutive output increases combined with Middle East supply recovery paint a bearish fundamental picture for oil; the $70 support level is critical.

Cracks are emerging in the AI hardware narrative β€” NVIDIA’s high-end rack delays and Samsung’s earnings test could amplify semiconductor volatility in the near term.

SK Hynix’s $29 billion IPO is a major event this week; strong pricing would boost AI chip sentiment, while disappointment could become a near-term headwind.

With the BOJ hiking slowly and the US-Japan rate gap widening, Goldman’s 165 USD/JPY target signals no reversal in yen weakness yet.

⏰ Upcoming Key Data

  • Switzerland June Seasonally Adjusted Unemployment Rate (imminent)
  • This week: Wednesday Fed June meeting minutes, Friday US June CPI