Iran's foreign ministry reiterated it will firmly defend national sovereignty and territorial integrity and punish any aggressor, saying Tehran will not allow US trade defaults, bullying or other hostile conduct to affect Iran's national interests.

Gold rose back above $4,100/oz after Wednesday’s sell-off, supported by a softer dollar and renewed Middle East tensions following another round of US‑Iran strikes. Rising energy prices could complicate the inflation outlook and bolster expectations the Fed will keep policy tighter for longer or hike further. June FOMC minutes showed an internal hawkish shift, pressuring precious metals. Capital Economics economist Thomas Ryan said: "The minutes reiterate that the door to a September rate hike remains wide open."

WSJ reporter Nick Timiraos says the Fed’s June minutes show officials differ mainly on the inflation and economic outlook rather than on whether to tighten or ease policy. Officials outlined two scenarios: if inflation stays elevated, most favor maintaining higher rates or further tightening; if inflation quickly returns to 2%, most would be comfortable holding current rates and could consider cuts. Timiraos highlights the phrase “quickly returns to 2%” as key, preserving Fed flexibility. The minutes underscore that the Fed’s next moves will depend on incoming data—especially inflation—and that policy timing remains uncertain despite prior market bets on cuts.