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According to Golden Ten Data on July 6, CITIC Securities pointed out that since the US-Iran conflict, gold prices and gold stocks have experienced a significant overshoot to the downside. Currently, gold stocks have a very strong safety margin in terms of both PE ratio and resource valuation. It is expected that in the third quarter of 2026, the gold price will range between $4,000 and $4,500 per ounce. If the rate hike expectations are fully corrected, gold prices are likely to return to $4,500–$5,000 per ounce. The gold sector will benefit from a resonance recovery in both earnings expectations and valuation levels. Comprehensive allocation opportunities in the gold sector should be emphasized.

```htmlJinse Finance reported that on July 6, during the early Asian session, oil prices fell, pressured by OPEC+ again deciding to increase production. After holding an online meeting on Sunday, the organization stated it would increase production by about 188,000 barrels per day in August, marking the fifth consecutive month of production hikes. However, analysts from the ANZ Research Department said in a report: "Even with the reopening of the Strait of Hormuz, member countries could find it difficult to utilize this additional capacity as vessels continue to face persistent risks." The ANZ Research analysts pointed out: "Over the weekend, several vessels were seen abruptly turning around when trying to cross the strait along the Oman route." Front-month West Texas Intermediate crude futures fell 0.6% to $68.29 per barrel; front-month Brent crude futures dropped 0.7% to $71.64 per barrel.```

According to ChainCatcher, CryptoQuant analyst Darkfost pointed out that Bitcoin's Sharpe ratio has once again entered the extreme negative value zone, dropping below -20 before rebounding slightly. The Sharpe ratio is used to measure the relationship between investment risk and return; a negative value indicates that the current risk is high relative to returns. This aligns with Bitcoin posting losses for the third consecutive quarter (the latest quarterly decline was 16.1%).