The main Shanghai silver futures contract rose more than 2.00% intraday, currently trading at 14,520.00 yuan/kg.

Conflict Situation 1. Iranian Military: All US military bases in the Middle East will become "legitimate targets" for Iranian drone strikes. 2. Israeli Media: Israel is preparing for a possible resumption of fighting with Iran. 3. Trump: Defense Secretary Hegses expressed appreciation for the idea of killing the Iranian leader during Khamenei's funeral. 4. Iranian Media: It is pointless for Iran to continue fulfilling its obligations; it should respond to Trump with concrete actions. 5. Trump: The temporary ceasefire agreement between the US and Iran has ended. / We may strike Iran again tonight, but we will observe how things develop first. / We may reinstate the blockade of the Strait of Hormuz, which will only target Iran. / It is possible to achieve Iran's "denuclearization" without an agreement. / Iran requested that I not launch an attack during the funeral. / We will see if we can continue to keep oil prices low; we should keep oil prices low. 6. Trump: There will be no second war with Iran; I do not intend to wage a protracted war. 7. Pakistani Foreign Ministry: Escalating tensions between the US and Iran are not in the interest of either side. Pakistan remains prepared to continue playing a role in mediation. 8. Iranian Foreign Ministry Spokesperson: The memorandum of understanding between Iran and the United States is not based on trust, but on a clear "commitment for commitment" mechanism. 9. US Vice President Vance: Iran must fulfill its commitments, or it will face consequences similar to last night. US military action will continue unless Iran stops firing on ships. 10. US Central Command: Under the direction of the US President, US Central Command forces have begun a new round of strikes against Iran. 11. According to Iran's Noor News: Military sources say that Iranian armed forces will launch a "large-scale" attack on US military bases in the region "soon." 12. US President Trump: The attack on Iran is in retaliation for yesterday's Iranian bombing of ships. If Iran attacks ships again, the consequences will be more severe. 13. According to Axios: A US official said that Wednesday's strikes were larger than those of previous days. Targets included Iranian Revolutionary Guard coastal radar, anti-ship missile sites, and air defense systems. US-Iran Negotiations 1. Iranian Foreign Ministry: Condemns the US for its blatant violation of the interim ceasefire agreement. The US actions have rendered key provisions of the ceasefire ineffective. The US should be held responsible for the consequences of the escalation. 2. US President Trump: We have wasted too much time on Iran. He believes the US-Iran memorandum of understanding is over. 3. Trump: (When asked about sending ground troops to Iran) Why would I do that? However, we have determined the exact location of Iranian nuclear material buried under the mountains and have the equipment to extract it. 4. According to TASS: Sources say that due to threats from the US, Iran has formally suspended negotiations with the US on a final solution. Strait of Hormuz 1. Ship tracking data shows that at least four oil and gas tankers turned back from the Strait of Hormuz after the tanker attacks. 2. Sources say that Iran will close the Strait of Hormuz if it suffers any further attacks. 3. US officials: The US military is prepared to re-blockade Iran. 4. According to Iranian media: Explosions were heard in Bandar Abbas, Sirik, and Qeshm Island, prompting the activation of local air defense systems. 5. According to Iran's Mehr News Agency: Iranian air defense systems shot down an "enemy drone" in the southern part of the country. Other Developments 1. NATO Secretary General Rutte: A new round of attacks on Iran is absolutely necessary. 2. European Aviation Safety Agency (EASA): The notification of the conflict zone in Iranian airspace is valid until August 31. 3. Kuwait condemned Iran's alleged "repeated attacks" on its territory and stated that it reserves the right to take all necessary measures to safeguard its sovereignty. 4. The US Secretary of Defense canceled his planned visit to Israel. 5. Trump threatened to cut off trade ties; Spain calmly responded: "We'll continue as usual." 6. The Iranian Foreign Minister spoke with the Qatari Prime Minister, emphasizing the need to resolve regional issues through diplomatic channels. 7. Sources say Pakistani Army Chief Asim Munir is in contact with Iranian officials in an attempt to de-escalate tensions between Iran and the United States. 8. Israeli sources say the United States notified Israel in advance of the attack on Iran.

On July 8th, the DR007 rate closed at 1.3829%. It remains to be seen whether this will break the downward trend since June 24th and continue to fluctuate around the policy rate of 1.4%. The central bank achieved a net withdrawal of 278.5 billion yuan that day. -------- Note: Short-term money market rates such as DR007 reflect the abundance of funds in the market. For example, many transactions in financial markets such as the stock and bond markets are essentially leveraged through loans, and the cost of these loans depends on short-term interest rates. DR007 is generally considered the anchor for short-term interest rates in China. The difference between DR007 and the central bank's 7-day reverse repo rate (policy rate) indicates whether there is a shortage of funds in the market. If the DR007 rate is significantly higher than the policy rate, it indicates a shortage of funds, and the central bank may intervene to inject liquidity; conversely, if the DR007 rate is lower, it indicates very ample market liquidity.