Shanghai Gold Exchange gold T+D closed down 1.45% at 885.6 yuan/gram on July 13 (Monday); SGE silver T+D closed down 3.25% at 14,160 yuan/kg.

Iran's Islamic Revolutionary Guard Corps (IRGC) said U.S. continued intervention in the Strait of Hormuz would lead to more severe incidents in the global oil and gas sector.

On July 12 Zhongji Xuchuang said 2027 pricing for optical modules is still being determined and market rumors of steep markdowns are exaggerated. Only a handful of suppliers can mass-deliver 1.6T and 800G modules because of technical barriers, market access and yield constraints, leaving customer deliveries limited. The company said delivery tightness will persist in 2027, making large-scale delivery capacity the primary value driver; high-end optical modules are not a low-price, cutthroat segment.