PBOC gold reserves at end-June: 75.44 million oz (about 2,346.45 tonnes), up 0.48 million oz (about 14.93 tonnes) MoM. End-May reserves were 74.96 million oz (about 2,331.52 tonnes). This is the 20th consecutive month of additions.

JP Morgan Asset Management global markets strategist Raisah Rasid says Indian firms lack exposure to AI hardware and are missing the AI boom, leaving India equities to lag regional peers and contributing to some foreign capital outflows. She warns this has driven earnings downgrades and investor concern over stretched valuations, while noting that broader AI adoption in India could improve productivity and the outlook if it materializes.

ECB executive board member Panetta said the latest energy shock must not be regarded as temporary.