1⃣ Precious metals continue to plummet
Spot gold has fallen for the eighth consecutive trading day, setting the longest losing streak since October 2023. The downward trend accelerated significantly during the U.S. trading session, with a drop of over 150 dollars at one point, hitting a new low in over a month, ultimately closing down 3.45%, at 4491.15 dollars/ounce; spot silver also fell below the 68 dollar mark, ultimately closing down 7.04%, at 67.79 dollars/ounce.
📉 The intensity of the sell-off in precious metals is no longer an ordinary correction.
2⃣ Middle East situation escalates again
Trump demands that Iran open the Strait of Hormuz within 48 hours, or else he will destroy its power plants. In response, the Iranian Islamic Revolutionary Guard Corps firmly stated: If the U.S. really attacks Iranian power stations, Iran will immediately take four countermeasures, including completely closing the Strait of Hormuz.
⚠️ This is no longer just talk; the market fears disruptions in energy transportation lines.
3⃣ Israel-Iran conflict fully intensifies
Israel's Dimona was “directly hit” by an Iranian missile, with sensitive nuclear facilities nearby; the Iranian missile also caused large-scale casualties in Israel's Arad. The Iranian armed forces stated that military operations have shifted from “defensive” to “offensive.” Israel has also made strong statements, with the defense minister saying they will “significantly increase” strikes against Iran, and Netanyahu stating that they will directly target the leaders of the Iranian Revolutionary Guard, calling on countries to join military actions against Iran.
🔥 The situation has escalated from testing to clear confrontation, and risks continue to rise.
4⃣ Federal Reserve cautious in tone
Federal Reserve Vice Chairman Bowman stated that they still expect to cut interest rates three times in 2026. Governor Waller mentioned that due to rising oil prices, he has “urgently withdrawn” the rate cut vote from March; however, if employment weakens, he will still support rate cuts later this year, while also not believing it is necessary to consider raising rates now. Powell publicly praised Volcker for his courage in resisting political pressure back in the day.
🏦 In short, the Federal Reserve is currently being pulled by oil prices and employment, making the pace of rate cuts less smooth.
5⃣ Resolv Labs stablecoin attacked
Resolv Labs' USR stablecoin was attacked, with hackers using a small amount of USDC to mint tens of millions of unsecured USR, causing the price to briefly decouple to 0.06 dollars. The team has now suspended the protocol and stated that the collateral pool remains intact.