China's May 2026 Financial Data Shows Stable M2, Rising M1, Boosting Precious Metals Sentiment

[SMM Precious Metal Express] Singapore Exchange announced it will establish an OTC gold clearing system and plans to launch central bank vault custody services by October, accelerating global gold market infrastructure development. This move is expected to enhance Singapore's position as an international gold trading hub, providing more comprehensive clearing and custody infrastructure for the precious metals market.

[SMM Precious Metal Express] The US-Iran agreement has been finalized, with the Strait of Hormuz set to reopen on Friday, sending oil prices sharply lower. However, precious metals rose instead of fell, as market focus shifted from geopolitical risks to Federal Reserve policy expectations. The US dollar index edged up to 99.67, while Treasury yields remained elevated. Precious metals climbed for a third consecutive day, indicating continued inflows of safe-haven capital.