Domestic News: 1. Wang Yi holds talks with Iranian Foreign Minister Araqchi. 2. The "15th Five-Year Plan for Cultural and Tourism Development" is issued, outlining eight key tasks. 3. State Grid Corporation of China releases several measures to cr

TD Securities global head of commodity strategy Bart Melek said markets have largely priced out a Fed rate hike in tonight's decision and oil fell on Wednesday. If energy prices remain subdued, the Fed may be less aggressive with tightening; easing in long-end yields is also reassuring. Any Fed action should be seen as a tool to convince markets it will prevent inflation from running unchecked. Combined with the US Treasury's consideration of measures to lower long-end yields, these factors are supportive for gold over the long term.

Key News 1. National Development and Reform Commission: Orderly opening up application scenarios in key areas, continuously optimizing the investment environment and expanding investment channels. 2. Two departments conduct administrative guidance for the online hotel booking platform service industry. 3. China Iron and Steel Association: An initiative for the steel industry to comprehensively implement self-discipline in production control and inventory reduction. 4. US Space Force claims to possess in-orbit space weapons; Ministry of Foreign Affairs: Urges the US to stop its military buildup in outer space. Individual Stock News 1. Xingyun Technology: Plans to increase its 2026 budget for server equipment and components procurement from no more than 7 billion yuan to no more than 20 billion yuan. 2. Huaci Co., Ltd. clarifies: The powder sold by the company to Chaozhou Sanhuan is still in the small-scale verification stage and has not yet achieved mass supply. 3. Are high-end MLCCs purchased from overseas and rebranded? Fenghua High-Tech responds: Do not easily believe rumors released through unofficial channels. 4. Xinhai Technology: Has made reasonable adjustments to the prices of some products. 5. Yidong Electronics: Plans to acquire a 29% stake in Shenzhen Guanding for 116 million yuan. 6. Qiming Information (two consecutive daily limit-up moves): The cooperation between FAW Group and GAC Group does not involve the company; its cybersecurity business is currently operating smoothly. 7. Caesar Tourism: A wholly-owned subsidiary was defrauded of 26.95 million yuan in a contract fraud case; a report has been filed with the police and an investigation has been initiated. 8. Raycus Laser: The company's ultraviolet nanosecond lasers can be applied to the precision processing of PCB boards. 9. Dingtai Hi-Tech: A subsidiary plans to invest 700 million yuan to build an advanced new materials manufacturing base project, mainly engaged in the R&D and production of products such as fabric weaving, brushing, and glass coating. 10. Li'ang Technology: A subsidiary plans to acquire 100% equity in Boxi Data for 193 million yuan; one director voted against the proposal. 11. Lingyi Intelligent Manufacturing: Currently, all foldable screen projects are progressing smoothly; mass production ramp-up and customer deliveries are proceeding according to plan in the third and fourth quarters.