June 12 Financial Breakfast: Trump halts airstrikes against Iran; US-Iran agreement expected to be signed this weekend; gold rebounds sharply to $4220; oil prices plunge nearly 6%.
2026-06-12 07:26:34
On Friday (June 12, Beijing time) in early Asian trading, spot gold was trading around $4,222 per ounce. Gold prices rebounded strongly by over 3% on Thursday after approaching $4,000 per barrel, returning above $4,200 per ounce. This was influenced by US President Trump's cancellation of the planned military strike against Iran, which eased market concerns about rising oil prices driving inflation and high interest rates. Trump also stated that the US-Iran agreement was in its final stages and could be signed by the end of the week. As a result, oil prices fell nearly 6% on Thursday, with US crude oil currently trading around $85.80 per barrel.
U.S. stocks closed sharply higher on Thursday, with the three major indexes posting their biggest one-day percentage gains since April 8. The Dow Jones Industrial Average rose 1.86%, the S&P 500 gained 1.75%, and the Nasdaq Composite climbed 2.5%, mainly due to President Trump's announcement hours before the expected airstrikes were scheduled to begin, canceling plans to attack Iran and stating that the U.S. and Iran might sign a peace agreement by the end of the week to restore shipping in the Strait of Hormuz.
Boosted market sentiment, chip stocks rebounded sharply, with the Philadelphia Semiconductor Index surging 7.9%. Meanwhile, market focus shifted to SpaceX, which will begin trading on Nasdaq on Friday. Its IPO was priced at $135 per share, raising a record $75 billion by selling 555.56 million shares, valuing the company at $1.77 trillion.
In terms of individual stocks, Oracle plunged 8.5% after announcing a larger-than-expected capital expenditure plan for fiscal year 2027. On the economic data front, the US producer price index rose more than expected in May, marking the largest annual increase in more than three years. Initial jobless claims rose slightly last week. The market generally expects the Federal Reserve to keep interest rates unchanged next week, but has already priced in at least one 25 basis point rate hike before the end of the year.
Spot gold rose more than 3% on Thursday to settle at $4,210.58 an ounce, after hitting a six-month low earlier in the session before rebounding. The market's concerns about rising oil prices driving inflation and high interest rates were eased by US President Trump's cancellation of a planned military strike against Iran. Trump stated that the airstrike plan had been cancelled and that the US, Israel, Saudi Arabia, and other countries had approved the key points of a potential agreement.
TD Securities commodity strategists pointed out that if a peace agreement materializes, it could help gold prices recover from their lows. The CME Group's FedWatch tool shows that after Trump decided to cancel the strikes, the probability of a US rate hike in December fell from 69% to 62%.
On the data front, initial jobless claims in the U.S. rose to 229,000 last week, higher than expected, while producer price inflation in May exceeded expectations. In other precious metals, spot silver rose 3.3% to $65.78, platinum rose 2.6% to $1708.38, and palladium rose 4.4% to $1267.50.
Oil prices closed nearly 6% lower on Thursday, with Brent crude falling 5.89% to $89.09 a barrel and WTI crude falling 5.91% to $86.42 a barrel. This was influenced by US President Trump's cancellation of a planned strike on Iran within hours, boosting market expectations for a peace agreement to end the more than three-month war. Trump stated that the airstrike was cancelled because negotiations had progressed to Iran's top leadership and a broad regional alliance. However, Iran's semi-official Fars News Agency reported that Tehran had not yet approved any agreement text.
Earlier on Wednesday, Iran announced the closure of the Strait of Hormuz and threatened to attack ships passing through it, but the US military said that merchant ships were still going in and out, and three more LNG tankers sailed out of the strait to Asia after turning off their transponders.
Meanwhile, Indian refiners said they have secured enough crude oil to meet demand at least until August. Data from the U.S. Energy Information Administration (EIA) showed that U.S. crude oil inventories fell by 7.2 million barrels to 426.5 million barrels in the week ending June 5, far exceeding analysts' expectations of a 4 million barrel decrease.
The dollar index fell 0.35% to 99.69 on Thursday, hitting a near one-week low; market expectations for peace rose and investor risk appetite increased as US President Trump called a last-minute halt to military strikes against Iran and said negotiations were moving toward an agreement.
The euro rose 0.42% to 1.1582 against the dollar, reversing earlier losses, despite the European Central Bank raising interest rates for the first time in three years to curb energy inflation; the dollar fell 0.68% to 0.7948 against the safe-haven Swiss franc, ending a four-day winning streak; the yen rose 0.49% to 159.73, but remained near levels that could trigger intervention.
Risk currencies such as the British pound and the Australian dollar also rose by 0.34% and 0.66%, respectively. Meanwhile, US stocks surged and US Treasury yields declined, with the market widely expecting the Federal Reserve to keep interest rates unchanged next week, although traders have already fully priced in a 25 basis point rate hike in December. The Bank of Japan will also hold a meeting next week, and the market expects a rate hike, but Governor Kazuo Ueda will be absent due to hospitalization.
Iranian Foreign Ministry: Strait of Hormuz remains closed
Iranian Foreign Ministry spokesman Bagaei stated on the 11th local time that the Strait of Hormuz remains closed due to "illegal actions by the United States." Bagaei said that ships must exercise caution as safe navigation cannot be guaranteed. Earlier that day, the U.S. Central Command stated that the Strait of Hormuz remains open to traffic. The U.S. Central Command stated that safe passageways have been established for merchant ships transiting the Strait of Hormuz, and all vessels not violating the blockade measures against Iran can use these passageways. (CCTV News)
Iranian Foreign Ministry: No final conclusion has been reached on the Iran-US agreement.
Iranian Foreign Ministry spokesman Baghae said on the 11th that all matters concerning the US-Iran agreement were speculation. To date, Iran has not reached a final conclusion on the agreement. Baghae also stated that the situation in the Strait of Hormuz has become more insecure due to US actions. Baghae added that Qatar and Pakistan are actively playing a mediating role, but US actions have affected the diplomatic process. He said that Iran was aware of the progress of the negotiations from the beginning, and most of the text of the agreement was completed, but the US has continuously changed its position. Iran has proven that it will never compromise on issues it considers "red lines." US President Trump earlier stated that, to his knowledge, Iran's Supreme Leader had agreed to the US-Iran agreement, and all parties in Iran had ratified it. (CCTV News)
Israel claims that Trump promised the US-Iran agreement would include measures such as removing Iran's enriched uranium.
On the evening of the 11th local time, the Israeli Prime Minister's Office issued a statement saying that Prime Minister Netanyahu spoke with US President Trump that evening, and the two discussed the drafting of a "Memorandum of Understanding between the US and Iran" aimed at initiating subsequent negotiations. The statement said that although Israel is not a signatory to the memorandum of understanding, Netanyahu expressed gratitude for Trump's commitment that the final agreement reached at the end of the negotiations would include removing Iran's enriched uranium, dismantling uranium enrichment infrastructure, restricting Iranian missile production, and ceasing Iranian support for regional proxies. (CCTV News)
Israel claims that Trump promised the US-Iran agreement would include measures such as removing Iran's enriched uranium.
On the evening of the 11th local time, the Israeli Prime Minister's Office issued a statement saying that Prime Minister Netanyahu spoke with US President Trump that evening, and the two discussed the drafting of a "Memorandum of Understanding between the US and Iran" aimed at initiating subsequent negotiations. The statement said that although Israel is not a signatory to the memorandum of understanding, Netanyahu expressed gratitude for Trump's commitment that the final agreement reached at the end of the negotiations would include removing Iran's enriched uranium, dismantling uranium enrichment infrastructure, restricting Iranian missile production, and ceasing Iranian support for regional proxies. (CCTV News)
Trump says the US-Iran agreement is in its final stages and could be signed this weekend.
On June 11 local time, US President Trump stated that a "very good deal" had been reached regarding the Iran issue, adding that the relevant documents were in the final drafting stage and expected to be finalized and signed in the coming days. He also indicated that the agreement might be signed in Europe, possibly this weekend, with US Vice President Vance in attendance. Trump stated that the Strait of Hormuz would be open once Iran signs the agreement. Iran has not yet responded. (CCTV News)
Israeli officials: Israel has not received any notification that the US-Iran agreement has been finalized.
According to Israeli sources on the 11th local time, a senior Israeli official stated that Israel had not received any notification that a US-Iran agreement had been finalized. This statement contradicts an earlier statement by US President Trump. Earlier that day, Trump posted on his Real Social media platform that discussions with Iran and the final terms had been approved by all relevant parties, including Israel. (CCTV News)
Trump: The time and place for the signing of the agreement will be announced soon.
Trump announced that, given that consultations with the Islamic Republic of Iran have been reported to and approved by Iran's supreme leadership, he, in his capacity as President of the United States, is canceling the planned strikes and bombings against Iran scheduled for tonight. The content and final terms of the consultations, both in their overall framework and details, have been endorsed by all relevant parties, including the United States, Israel, Saudi Arabia, the United Arab Emirates, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, and Egypt. The maritime blockade will remain in full effect until this agreement is formally implemented. The time and place of the signing will be announced in the coming days.
Iran warns the US could be bogged down in another war.
Iranian Parliament Speaker Mohammad Ghalibaf posted on social media on the evening of June 11, stating, "(The US government's) flawed strategies and impulsive decisions will lead to a deterioration of the overall situation, triggering turmoil in energy infrastructure and markets, and plunging you (the US) into an endless quagmire from which you will find it difficult to extricate yourself for years. At that time, you will see a different Iran." (CCTV International News)
Iran is assessing the possibility of adding Musk's companies to its military target list.
According to Iran's Fars News Agency on the 11th, Iran is assessing the inclusion of certain assets and infrastructure associated with companies owned by American entrepreneur Elon Musk on its list of potential military targets, citing concerns that these companies are alleged to provide technical support to the United States and Israel. The report stated that Iran believes the US and Israeli militaries have used communications infrastructure operated by Musk-related companies, and therefore is evaluating adding certain related facilities in the Middle East to its military target list. According to the report, some Starlink ground facilities located in Israel, Qatar, Jordan, the UAE, and Oman, as well as some infrastructure associated with investors in SpaceX, are among the targets being assessed by Iran. (Xinhua)
With a complete industrial chain, Chinese agricultural machinery is heading to the world.
my country is a major user of agricultural machinery and the only country in the world with the capability to manufacture all types of agricultural machinery. Today, Chinese agricultural machinery is not only used domestically but also distributed globally. What kind of industrial development strength lies behind the overseas expansion of Chinese agricultural machinery? The confidence to go global stems from the 30-minute industrial circle formed by the cluster of over 10 agricultural machinery manufacturers and 20 supporting enterprises in Ningxiang, Hunan. New prototypes can be completed from blueprints to small-batch trial production in just 3 to 7 days, reducing production costs by more than 30%. This efficient and convenient industrial chain is the foundation for OEMs to continuously expand into overseas markets. This year, this OEM invested over 90 million yuan to expand its new factory, with 80% of its production capacity dedicated to supplying overseas markets. (CCTV News)
China is expected to lead the global deployment of 6G, and China's commercial space program is accelerating.
The 15th Five-Year Plan outlines the cultivation and expansion of emerging and future industries. This year, related industries have experienced rapid development, becoming a focus of research reports from numerous domestic and international institutions and professional organizations. This week, my country's Zhuque-2 improved Y6 carrier rocket successfully launched, completing the satellite internet project launch mission in a "one rocket, two satellites" configuration. Yang Kewei, an expert from the CCID Research Institute specializing in commercial aerospace research, told CCTV Finance that this was the eighth flight of the Zhuque-2 carrier rocket. Yang Kewei explained that the development of commercial aerospace in China is accelerating. By 2025, the number of commercial aerospace companies in my country will exceed 600, an increase of over 20% year-on-year; my country will have conducted 50 commercial aerospace launches, an increase of 7 from the previous year, accounting for 54% of the total launches for the year; and 311 commercial satellites will be put into orbit, an increase of 110 from the previous year, accounting for 84% of the total number of satellites in orbit. While commercial aerospace is developing rapidly, my country's forward-looking layout in information and communication technology has also attracted widespread attention from the industry. Not long ago, my country officially became the first country in the world to approve 6G experimental frequencies, providing support for conducting technical experiments. According to the GSMA's (Global System for Mobile Communications Association) predictive study on spectrum planning towards 2040, China will remain a leader in the 6G era. Sihan, President of GSMA Greater China, stated that China is expected to become one of the leading countries in 6G deployment. By 2035, 6G penetration is projected to reach 60%. (CCTV Finance)
Key Focus Today
stock market
U.S. stocks closed sharply higher on Thursday, with the three major indexes posting their biggest one-day percentage gains since April 8. The Dow Jones Industrial Average rose 1.86%, the S&P 500 gained 1.75%, and the Nasdaq Composite climbed 2.5%, mainly due to President Trump's announcement hours before the expected airstrikes were scheduled to begin, canceling plans to attack Iran and stating that the U.S. and Iran might sign a peace agreement by the end of the week to restore shipping in the Strait of Hormuz.
Boosted market sentiment, chip stocks rebounded sharply, with the Philadelphia Semiconductor Index surging 7.9%. Meanwhile, market focus shifted to SpaceX, which will begin trading on Nasdaq on Friday. Its IPO was priced at $135 per share, raising a record $75 billion by selling 555.56 million shares, valuing the company at $1.77 trillion.
In terms of individual stocks, Oracle plunged 8.5% after announcing a larger-than-expected capital expenditure plan for fiscal year 2027. On the economic data front, the US producer price index rose more than expected in May, marking the largest annual increase in more than three years. Initial jobless claims rose slightly last week. The market generally expects the Federal Reserve to keep interest rates unchanged next week, but has already priced in at least one 25 basis point rate hike before the end of the year.
Gold Market
Spot gold rose more than 3% on Thursday to settle at $4,210.58 an ounce, after hitting a six-month low earlier in the session before rebounding. The market's concerns about rising oil prices driving inflation and high interest rates were eased by US President Trump's cancellation of a planned military strike against Iran. Trump stated that the airstrike plan had been cancelled and that the US, Israel, Saudi Arabia, and other countries had approved the key points of a potential agreement.
TD Securities commodity strategists pointed out that if a peace agreement materializes, it could help gold prices recover from their lows. The CME Group's FedWatch tool shows that after Trump decided to cancel the strikes, the probability of a US rate hike in December fell from 69% to 62%.
On the data front, initial jobless claims in the U.S. rose to 229,000 last week, higher than expected, while producer price inflation in May exceeded expectations. In other precious metals, spot silver rose 3.3% to $65.78, platinum rose 2.6% to $1708.38, and palladium rose 4.4% to $1267.50.
oil market
Oil prices closed nearly 6% lower on Thursday, with Brent crude falling 5.89% to $89.09 a barrel and WTI crude falling 5.91% to $86.42 a barrel. This was influenced by US President Trump's cancellation of a planned strike on Iran within hours, boosting market expectations for a peace agreement to end the more than three-month war. Trump stated that the airstrike was cancelled because negotiations had progressed to Iran's top leadership and a broad regional alliance. However, Iran's semi-official Fars News Agency reported that Tehran had not yet approved any agreement text.
Earlier on Wednesday, Iran announced the closure of the Strait of Hormuz and threatened to attack ships passing through it, but the US military said that merchant ships were still going in and out, and three more LNG tankers sailed out of the strait to Asia after turning off their transponders.
Meanwhile, Indian refiners said they have secured enough crude oil to meet demand at least until August. Data from the U.S. Energy Information Administration (EIA) showed that U.S. crude oil inventories fell by 7.2 million barrels to 426.5 million barrels in the week ending June 5, far exceeding analysts' expectations of a 4 million barrel decrease.
Foreign exchange market
The dollar index fell 0.35% to 99.69 on Thursday, hitting a near one-week low; market expectations for peace rose and investor risk appetite increased as US President Trump called a last-minute halt to military strikes against Iran and said negotiations were moving toward an agreement.
The euro rose 0.42% to 1.1582 against the dollar, reversing earlier losses, despite the European Central Bank raising interest rates for the first time in three years to curb energy inflation; the dollar fell 0.68% to 0.7948 against the safe-haven Swiss franc, ending a four-day winning streak; the yen rose 0.49% to 159.73, but remained near levels that could trigger intervention.
Risk currencies such as the British pound and the Australian dollar also rose by 0.34% and 0.66%, respectively. Meanwhile, US stocks surged and US Treasury yields declined, with the market widely expecting the Federal Reserve to keep interest rates unchanged next week, although traders have already fully priced in a 25 basis point rate hike in December. The Bank of Japan will also hold a meeting next week, and the market expects a rate hike, but Governor Kazuo Ueda will be absent due to hospitalization.
International News
Iranian Foreign Ministry: Strait of Hormuz remains closed
Iranian Foreign Ministry spokesman Bagaei stated on the 11th local time that the Strait of Hormuz remains closed due to "illegal actions by the United States." Bagaei said that ships must exercise caution as safe navigation cannot be guaranteed. Earlier that day, the U.S. Central Command stated that the Strait of Hormuz remains open to traffic. The U.S. Central Command stated that safe passageways have been established for merchant ships transiting the Strait of Hormuz, and all vessels not violating the blockade measures against Iran can use these passageways. (CCTV News)
Iranian Foreign Ministry: No final conclusion has been reached on the Iran-US agreement.
Iranian Foreign Ministry spokesman Baghae said on the 11th that all matters concerning the US-Iran agreement were speculation. To date, Iran has not reached a final conclusion on the agreement. Baghae also stated that the situation in the Strait of Hormuz has become more insecure due to US actions. Baghae added that Qatar and Pakistan are actively playing a mediating role, but US actions have affected the diplomatic process. He said that Iran was aware of the progress of the negotiations from the beginning, and most of the text of the agreement was completed, but the US has continuously changed its position. Iran has proven that it will never compromise on issues it considers "red lines." US President Trump earlier stated that, to his knowledge, Iran's Supreme Leader had agreed to the US-Iran agreement, and all parties in Iran had ratified it. (CCTV News)
Israel claims that Trump promised the US-Iran agreement would include measures such as removing Iran's enriched uranium.
On the evening of the 11th local time, the Israeli Prime Minister's Office issued a statement saying that Prime Minister Netanyahu spoke with US President Trump that evening, and the two discussed the drafting of a "Memorandum of Understanding between the US and Iran" aimed at initiating subsequent negotiations. The statement said that although Israel is not a signatory to the memorandum of understanding, Netanyahu expressed gratitude for Trump's commitment that the final agreement reached at the end of the negotiations would include removing Iran's enriched uranium, dismantling uranium enrichment infrastructure, restricting Iranian missile production, and ceasing Iranian support for regional proxies. (CCTV News)
Israel claims that Trump promised the US-Iran agreement would include measures such as removing Iran's enriched uranium.
On the evening of the 11th local time, the Israeli Prime Minister's Office issued a statement saying that Prime Minister Netanyahu spoke with US President Trump that evening, and the two discussed the drafting of a "Memorandum of Understanding between the US and Iran" aimed at initiating subsequent negotiations. The statement said that although Israel is not a signatory to the memorandum of understanding, Netanyahu expressed gratitude for Trump's commitment that the final agreement reached at the end of the negotiations would include removing Iran's enriched uranium, dismantling uranium enrichment infrastructure, restricting Iranian missile production, and ceasing Iranian support for regional proxies. (CCTV News)
Trump says the US-Iran agreement is in its final stages and could be signed this weekend.
On June 11 local time, US President Trump stated that a "very good deal" had been reached regarding the Iran issue, adding that the relevant documents were in the final drafting stage and expected to be finalized and signed in the coming days. He also indicated that the agreement might be signed in Europe, possibly this weekend, with US Vice President Vance in attendance. Trump stated that the Strait of Hormuz would be open once Iran signs the agreement. Iran has not yet responded. (CCTV News)
Israeli officials: Israel has not received any notification that the US-Iran agreement has been finalized.
According to Israeli sources on the 11th local time, a senior Israeli official stated that Israel had not received any notification that a US-Iran agreement had been finalized. This statement contradicts an earlier statement by US President Trump. Earlier that day, Trump posted on his Real Social media platform that discussions with Iran and the final terms had been approved by all relevant parties, including Israel. (CCTV News)
Trump: The time and place for the signing of the agreement will be announced soon.
Trump announced that, given that consultations with the Islamic Republic of Iran have been reported to and approved by Iran's supreme leadership, he, in his capacity as President of the United States, is canceling the planned strikes and bombings against Iran scheduled for tonight. The content and final terms of the consultations, both in their overall framework and details, have been endorsed by all relevant parties, including the United States, Israel, Saudi Arabia, the United Arab Emirates, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, and Egypt. The maritime blockade will remain in full effect until this agreement is formally implemented. The time and place of the signing will be announced in the coming days.
Iran warns the US could be bogged down in another war.
Iranian Parliament Speaker Mohammad Ghalibaf posted on social media on the evening of June 11, stating, "(The US government's) flawed strategies and impulsive decisions will lead to a deterioration of the overall situation, triggering turmoil in energy infrastructure and markets, and plunging you (the US) into an endless quagmire from which you will find it difficult to extricate yourself for years. At that time, you will see a different Iran." (CCTV International News)
Iran is assessing the possibility of adding Musk's companies to its military target list.
According to Iran's Fars News Agency on the 11th, Iran is assessing the inclusion of certain assets and infrastructure associated with companies owned by American entrepreneur Elon Musk on its list of potential military targets, citing concerns that these companies are alleged to provide technical support to the United States and Israel. The report stated that Iran believes the US and Israeli militaries have used communications infrastructure operated by Musk-related companies, and therefore is evaluating adding certain related facilities in the Middle East to its military target list. According to the report, some Starlink ground facilities located in Israel, Qatar, Jordan, the UAE, and Oman, as well as some infrastructure associated with investors in SpaceX, are among the targets being assessed by Iran. (Xinhua)
Domestic News
With a complete industrial chain, Chinese agricultural machinery is heading to the world.
my country is a major user of agricultural machinery and the only country in the world with the capability to manufacture all types of agricultural machinery. Today, Chinese agricultural machinery is not only used domestically but also distributed globally. What kind of industrial development strength lies behind the overseas expansion of Chinese agricultural machinery? The confidence to go global stems from the 30-minute industrial circle formed by the cluster of over 10 agricultural machinery manufacturers and 20 supporting enterprises in Ningxiang, Hunan. New prototypes can be completed from blueprints to small-batch trial production in just 3 to 7 days, reducing production costs by more than 30%. This efficient and convenient industrial chain is the foundation for OEMs to continuously expand into overseas markets. This year, this OEM invested over 90 million yuan to expand its new factory, with 80% of its production capacity dedicated to supplying overseas markets. (CCTV News)
China is expected to lead the global deployment of 6G, and China's commercial space program is accelerating.
The 15th Five-Year Plan outlines the cultivation and expansion of emerging and future industries. This year, related industries have experienced rapid development, becoming a focus of research reports from numerous domestic and international institutions and professional organizations. This week, my country's Zhuque-2 improved Y6 carrier rocket successfully launched, completing the satellite internet project launch mission in a "one rocket, two satellites" configuration. Yang Kewei, an expert from the CCID Research Institute specializing in commercial aerospace research, told CCTV Finance that this was the eighth flight of the Zhuque-2 carrier rocket. Yang Kewei explained that the development of commercial aerospace in China is accelerating. By 2025, the number of commercial aerospace companies in my country will exceed 600, an increase of over 20% year-on-year; my country will have conducted 50 commercial aerospace launches, an increase of 7 from the previous year, accounting for 54% of the total launches for the year; and 311 commercial satellites will be put into orbit, an increase of 110 from the previous year, accounting for 84% of the total number of satellites in orbit. While commercial aerospace is developing rapidly, my country's forward-looking layout in information and communication technology has also attracted widespread attention from the industry. Not long ago, my country officially became the first country in the world to approve 6G experimental frequencies, providing support for conducting technical experiments. According to the GSMA's (Global System for Mobile Communications Association) predictive study on spectrum planning towards 2040, China will remain a leader in the 6G era. Sihan, President of GSMA Greater China, stated that China is expected to become one of the leading countries in 6G deployment. By 2035, 6G penetration is projected to reach 60%. (CCTV Finance)
- Risk Warning and Disclaimer
- The market involves risk, and trading may not be suitable for all investors. This article is for reference only and does not constitute personal investment advice, nor does it take into account certain users’ specific investment objectives, financial situation, or other needs. Any investment decisions made based on this information are at your own risk.
