At Monday open, spot gold opened about $20 lower, slipping below $4,100/oz. Spot silver opened down 0.8%.

CENTCOM said on July 12 it carried out a new round of offensive strikes against Iran, using precision-guided weapons to destroy dozens of targets at multiple locations to degrade Iran’s ability to attack shipping transiting the Strait of Hormuz. The operation employed strike aircraft, naval vessels, one-way attack UAVs and, for the first time in combat, one-way attack unmanned surface vessels; CENTCOM said strikes hit Iranian air-defence systems, coastal radar sites, missile and UAV combat capabilities and small boats. CENTCOM added that Iran does not control the Strait of Hormuz and US forces are positioned to ensure freedom of navigation.

Japan's largest power company JERA signed a memorandum of understanding with Samsung C&T to strengthen resilience and supply security across hydrogen and ammonia value chains.