Iran's Islamic Revolutionary Guard Corps said reopening of the Strait of Hormuz will be delayed as long as the United States continues its actions.

Shanghai Gold Exchange gold T+D fell 0.97% to 879.6 yuan/gram at the start of the evening session on Tuesday July 14; silver T+D rose 0.78% to 14,170 yuan/kilogram.

German two-year bond yield rose intraday to 2.7985%, the highest since July 2024, as markets worried an Iran conflict could lift energy prices, re-ignite inflation and force further central-bank tightening. Later, US June CPI cooled more than expected, bolstering expectations of a milder Fed path and trimming euro-area yield gains. Money markets now price the ECB deposit rate at 2.68% by December (current 2.25%), fully pricing a 25bp hike in September.