Metals & Macro Liquidity

According to Jin10, Shanghai Gold's afternoon fix on July 23 was 896.63 yuan per gram, trading 5.38 yuan above the international gold price of 891.25 yuan per gram.

Spot gold fell below $4,100 per ounce today, declining 0.73% intraday.

According to the Shanghai Gold Exchange, gold T+D futures closed down 0.2% at 895.5 yuan per gram on July 23, while silver T+D futures rose 0.03% to 14,499 yuan per kilogram on the same day.

According to Jin10 Futures, as of 15:00 Beijing time on July 23, spot platinum fell 0.25% and spot palladium declined 0.39%.

According to UBS gold strategist Joni Teves, China's mainland and Hong Kong gold stocks surged roughly 20% over three days as of July 23, signaling improving market confidence. UBS' global team maintains its optimistic outlook on gold and forecasts prices will reach $4,675 per ounce by end of 2026 a

According to UBS, gold prices rebounded this week, with Hong Kong and mainland gold stocks rising about 20% in three days. The Swiss bank projects gold to reach $4,675 per ounce in 2026 and $4,800 per ounce in 2027, citing improved investor sentiment driven by softer U.S. non-farm employment and

According to CME data, on July 22, gold, WTI crude oil, and natural gas all saw increases in both trading volume and open interest. Gold trading volume reached 182,264 contracts with 387,520 open contracts; WTI crude oil volume hit 1,163,459 contracts with 1,880,106 open contracts; natural gas volum

According to Jin10, domestic gold jewelry prices rose approximately 8 yuan per gram on July 23 compared to the previous day. Multiple domestic brands' gold jewelry products are now trading in the range of 1253-1258 yuan per gram.

According to Jin10, Shanghai gold traded at 897.7 yuan per gram on Thursday (July 23) morning, a premium of 2.08 yuan per gram above the international gold price of 895.62 yuan per gram.

On July 23, 2026, global capital markets saw a geopolitical-driven repricing reshuffle. Last night and this morning, the US-Iran conflict showed no signs of cooling. Both sides issued hardline statements, stressing their respective conflict bottom lines. Trump posted on social media, saying that every time Iran fires at ships in the Strait of Hormuz, the US would bomb and destroy an Iranian bridge or power plant, including facilities located within Tehran and its surrounding areas. Trump also sa

Former BlackRock portfolio manager and Phinance Technologies co-founder Ed Dowd said in an interview with Kitco that 45% of the market cap of the S&P 500 is related to the AI sector, and that, at current valuations, the expected return over the next 10 years is zero. He said that private credit packaged into insured “wrappers” and resold to insurance companies is a structure that “sounds a lot like the 2008 financial crisis.” Credit default cycle kicks in: Private credit growth stalls Dowd said

Spot platinum fell 0.04% and spot palladium declined 0.08% at 8:30 a.m. Beijing time on July 23.

According to analysts reported by Jin10, on July 23, gold and silver prices continued to rise amid geopolitical tensions and shifting liquidity conditions. However, analysts from Haitong Futures and Zhongsheng Futures noted that the rebound height may be limited as markets await further clarity on t

According to CNBC, hedge fund manager John Paulson said on July 22 that gold is entering the early stage of a prolonged bull market. Paulson stated that as people lose confidence in fiat currencies, gold's role as an alternative asset will grow increasingly important. He noted that gold prices

SPDR Gold Trust, the world's largest gold ETF, increased its holdings by 1.998 tons overnight, bringing total holdings to 1,007.871 tons.

iShares Silver Trust, the world's largest silver ETF, increased holdings by 22.49 tons compared to the previous day (July 21), bringing total holdings to 15,066.94 tons.

William J. Watkins, Jr., a research fellow at the Independent Institute, argues the U.S. dollar is backed by government power rather than gold, as the national debt nears $40 trillion. Watkins told Kitco News the country drifted from the founders' constitutional design of hard money and limited

According to constitutional scholar William J. Watkins Jr. in an interview with Kitco News, the U.S. dollar is backed by governmental coercive power rather than tangible assets as the national debt approaches $40 trillion. Watkins, a research fellow at the Independent Institute, argued that the

Steve Forbes, Chairman and Editor-in-Chief of Forbes Media, characterized gold as essential insurance against currency crises, inflation overreaction, and dollar devaluation, as markets experience a dollar resurgence following gold's late January highs near $5,600 per ounce. Forbes attributed the do

From 21:30 to 21:45 (UTC) on July 22, 2026, BTC saw a brief uptick within 15 minutes, with a Return % of +0.33% and a price range of 65,910.3–66,131.2 USDT, along with an Ampl of 0.34%. The current offer is $65,924.5, down 0.66% over the past 24 hours. Overall, the market is showing a narrow-range consolidation pattern with low participation. The Filled Amount is only 159.43 BTC, indicating the market is in a wait-and-see stage ahead of choosing a direction. The main driver behind this move is t