During the day, both domestic and foreign gold prices fluctuated weakly, falling less than 1%. Due to the fact that the June inflation data was weak and fell short of expectations, while crude oil prices rose due to the closure of the Strait of Hormuz and the continuing escalation of tension between the US and Iran, investors are still worried about energy-driven inflation. In June, the US PPI rate was 5.5% per annum, less than the forecast of 6.2% and the previous value of 6%; the monthly PPI rate was -0.3%, falling short of the forecast of 0% and the previous value of 0.6%, and the growth of core CPI fell short of expectations. Affected by weakening CPI and PPI data, the CME showed that the market's bet on the Fed's interest rate hike expectations was postponed until October, but rising oil prices still caused the risk of inflation to persist. According to Xinhua News Agency, Trump held a meeting in the White House war room on the 14th to discuss plans for a large-scale attack on Iran, saying “the scale will be broader than the current attack around the Strait of Hormuz”; he also said that unless Iran returns to the negotiation table, the US military will attack its bridges and power plants next week.

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