霍尔木兹协议曙光初现，黄金在等待中窄幅震荡

Odaily News: During Wednesday's Asian trading session, spot gold traded within a narrow range, as a temporary agreement on the Strait of Hormuz is expected to be reached, easing inflation concerns and reducing the likelihood of a Federal Reserve rate hike. Qatar stated that it has drafted a proposal to help normalize commercial shipping through the Strait of Hormuz, with both U.S. and Iranian officials expressing progress in negotiations to reopen this critical energy shipping waterway. Driven by optimism over the potential agreement, oil prices fell for a third consecutive day. The market is now fully pricing in one rate hike by the Fed this year, compared to nearly two hikes just last week. Reduced monetary tightening typically benefits non-yielding gold. Nicky Shiels, Head of Research and Metals Strategy at MKS Pamp, said: "Gold is the liquidity sponge in the commodities macro space, and it is one of the first assets to be hit whenever any tightening risk signals emerge—whether structural or news-driven." (Jin Shi)