Overseas Markets | The three major US stock indices collectively closed lower, geopolitical risks escalated, and oil and gold saw a safe-haven rally

The three major US stock indices dipped slightly overnight: the Dow Jones fell 0.01%, the Nasdaq fell 0.57%, and the S&P 500 fell 0.14%. SpaceX hit a low, dropping 6.7%, while SK Hynix fell over 3%.

The Nasdaq China Golden Dragon Index dropped 1.8%, NetEase fell over 6%, Chagee was down nearly 5%, and XPeng, Bilibili, and Beike all fell over 3%.

Trump's remarks may strike at Iran's infrastructure such as bridges and power plants, escalating geopolitical risks; WTI crude oil rose 2.95%, Brent crude rose 3.36%; spot gold rose 1.32% to touch $4,131, and silver rose 1.63%. Safe-haven buying drove precious metals higher together.

CITIC Securities research report believes that the gold price range in the third quarter will be between $4,000 and $4,500. If expectations for rate hikes are revised, it is expected to rebound above $4,500, bringing both profitability and valuation repair to the gold sector.

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