Shanghai Gold Exchange gold T+D fell 1.25% to 891.59 yuan/gram in the July 8 (Wednesday) evening session; silver T+D fell 3.36% to 14,258.0 yuan/kg.

Trump is pushing Ukraine to produce Patriot and Tomahawk systems, signalling a shift in US aid from direct fiscal support to a technology‑licence plus supply‑chain export model. That shifts defense-sector commercial logic away from single government procurement toward recurring overseas revenue streams from system licensing, core parts supply and long‑term maintenance. The move also signals a lower probability of a quick end to the Russia‑Ukraine conflict and prepares markets for more sustained military support, which should reinforce European defence spending and related investment. Market takeaways: reprice defence equities for greater foreign and service income exposure; reassess European fiscal trajectories and potential sovereign issuance/interest‑rate implications from prolonged defence spending; consider tactical exposure to energy, resources and other defensive assets tied to extended geopolitical risk.

Trump said the decision on whether to continue talks with Iran will be left to Witkoff and Kushner.