The situation between the U.S. and Iran remains tense. Trump said he would strike Iran’s underground nuclear facilities, and he also plans to charge a 20% toll on freight shipments passing through the Strait of Hormuz. Prompted by this, international oil prices surged sharply overnight. Tonight, the U.S. will release its June CPI data, and afterward, Federal Reserve officials will also attend a congressional hearing. Multiple developments may change market expectations regarding the Fed’s interest-rate-hike pace. At present, the share of long positions in spot gold and silver has all broken above 80%, while the U.S. oil market has already shown signals that shorts are exiting and selling.