Japan household spending MoM -6.4% in June vs -3.1% expected; May +3.7%.

Spot gold climbed, briefly topping $4,300/oz intraday to a seven-week high; futures extended recent gains. The rise transmitted to China’s retail market: Shenzhen Shuibei wholesale quotes for 999 fine-gold jewelry are around 1,100 yuan/gram, about 50 yuan higher than two days ago. Buying patterns have shifted from the year‑start panic buying — investors are broadly more cautious; demand is now concentrated in wedding-related and value-preservation purchases. Gold recycling and trade‑in activity is uneven across the market.

President Trump said the strait is, to some extent, open at the moment.