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On July 29, the Korea Exchange triggered the circuit breaker mechanism on the KOSDAQ index, suspending trading for 20 minutes. (Jinshi)

[Korea Exchange Triggers Circuit Breaker on KOSDAQ Index, Trading Suspended for 20 Minutes]On July 29, the Korea Exchange triggered the circuit breaker mechanism on the KOSDAQ index, suspending trading for 20 minutes. (Jinshi)

Korea Exchange Triggers Circuit Breaker on KOSDAQ Index, Trading Suspended for 20 Minutes

On July 29, according to CNBC, attorneys general from 44 U.S. states sent a letter on Monday to the Commodity Futures Trading Commission (CFTC), arguing that the agency lacks the authority to regulate sports-related event contracts on prediction market platforms. The letter was issued as the public comment period for the CFTC’s first proposed rule on prediction market regulation ended on Monday evening, focusing primarily on sports products on exchanges. The coalition, led by Ohio Attorney General Andy Wilson, stated that the proposed rule exceeds the CFTC’s statutory authority, conflicts with the Constitution, and is arbitrary and capricious. It should be redrafted to clearly state that sports betting cannot be traded on designated contract markets and should instead be governed by state law. Attorneys general from Florida, Georgia, New Hampshire, Missouri, and Texas did not sign the letter. The CFTC released its first draft of prediction market regulatory rules in June, focusing on sports event contracts and defining "gaming." The CFTC has been clashing with multiple states in court on the grounds of federal preemption and is currently engaged in litigation with nine states.

[Attorneys General of 44 U.S. States Jointly Urge CFTC Against Regulating Sports Prediction Markets]On July 29, according to CNBC, attorneys general from 44 U.S. states sent a letter on Monday to the Commodity Futures Trading Commission (CFTC), arguing that the agency lacks the authority to regulate sports-related event contracts on prediction market platforms. The letter was issued as the public comment period for the CFTC’s first proposed rule on prediction market regulation ended on Monday evening, focusing primarily on sports products on exchanges. The coalition, led by Ohio Attorney General Andy Wilson, stated that the proposed rule exceeds the CFTC’s statutory authority, conflicts with the Constitution, and is arbitrary and capricious. It should be redrafted to clearly state that sports betting cannot be traded on designated contract markets and should instead be governed by state law. Attorneys general from Florida, Georgia, New Hampshire, Missouri, and Texas did not sign the letter. The CFTC released its first draft of prediction market regulatory rules in June, focusing on sports event contracts and defining "gaming." The CFTC has been clashing with multiple states in court on the grounds of federal preemption and is currently engaged in litigation with nine states.

Attorneys General of 44 U.S. States Jointly Urge CFTC Against Regulating Sports Prediction Markets

July 29, a Reuters survey showed that analysts cut gold price forecasts for the first time since the end of 2023. Gold prices have retreated significantly from record highs hit in January this year, but most respondents still believe that continued central bank buying and market concerns over government fiscal sustainability will continue to support gold prices.
In the survey of 29 analysts and traders over the past three weeks, the median gold price forecast for 2026 was $4,509 per ounce, down from $4,916 in the previous survey three months ago. This is also the first time in 11 consecutive quarters that analysts have revised down gold price forecasts.
For 2027, analysts' average price forecast was $4,610 per ounce, down from $5,100 in the previous survey.
Gold prices rose to a record high of $5,595 per ounce in January this year, but then fell sharply in the second quarter, recording its worst quarterly performance since 2013. The market believes that the Iran war pushed up energy prices and strengthened expectations of Fed rate hikes, which were important factors leading to the gold price adjustment. Since the outbreak of the war, spot gold prices have fallen about 22% in total.

[Wall Street cuts gold price forecast for first time in 11 quarters, but central bank buying bolsters bulls]July 29, a Reuters survey showed that analysts cut gold price forecasts for the first time since the end of 2023. Gold prices have retreated significantly from record highs hit in January this year, but most respondents still believe that continued central bank buying and market concerns over government fiscal sustainability will continue to support gold prices.
In the survey of 29 analysts and traders over the past three weeks, the median gold price forecast for 2026 was $4,509 per ounce, down from $4,916 in the previous survey three months ago. This is also the first time in 11 consecutive quarters that analysts have revised down gold price forecasts.
For 2027, analysts' average price forecast was $4,610 per ounce, down from $5,100 in the previous survey.
Gold prices rose to a record high of $5,595 per ounce in January this year, but then fell sharply in the second quarter, recording its worst quarterly performance since 2013. The market believes that the Iran war pushed up energy prices and strengthened expectations of Fed rate hikes, which were important factors leading to the gold price adjustment. Since the outbreak of the war, spot gold prices have fallen about 22% in total.

Wall Street cuts gold price forecast for first time in 11 quarters, but central bank buying bolsters bulls

On July 29, the Korean stock market experienced a recent 'rollercoaster' ride. The KOSPI index surged approximately 80% over 10 weeks, only to retreat about 40% over the next 5 weeks, with volatility far exceeding major global stock indices. Data shows that if the S&P 500 index fell 40% in 5 weeks, it would wipe out all its gains over the past 5 years, highlighting the extreme volatility of the current Korean stock market cycle. As of the time of writing, the KOSPI index dropped 7.9%.

[10-Week Surge of 80%, 5-Week Pullback of 40%: Korean Stock Market on a Rollercoaster Ride]On July 29, the Korean stock market experienced a recent 'rollercoaster' ride. The KOSPI index surged approximately 80% over 10 weeks, only to retreat about 40% over the next 5 weeks, with volatility far exceeding major global stock indices. Data shows that if the S&P 500 index fell 40% in 5 weeks, it would wipe out all its gains over the past 5 years, highlighting the extreme volatility of the current Korean stock market cycle. As of the time of writing, the KOSPI index dropped 7.9%.

10-Week Surge of 80%, 5-Week Pullback of 40%: Korean Stock Market on a Rollercoaster Ride

On July 29, the Korea Exchange triggered a circuit breaker for the KOSDAQ index, suspending trading for 20 minutes. KOSDAQ (KQ11) extended its decline to 8.05%, with a drop of over 28% in the past month.

[KOSDAQ Index Circuit Breaker, Trading Suspended for 20 Minutes]On July 29, the Korea Exchange triggered a circuit breaker for the KOSDAQ index, suspending trading for 20 minutes. KOSDAQ (KQ11) extended its decline to 8.05%, with a drop of over 28% in the past month.

KOSDAQ Index Circuit Breaker, Trading Suspended for 20 Minutes

July 29 – According to a Reuters survey, analysts have lowered their gold price forecasts for the first time since the end of 2023. 29 analysts and traders expect the average gold price in 2026 to be $4,509 per ounce, down from the $4,916 predicted three months ago; the 2027 average forecast falls to $4,610 per ounce, down from the previous $5,100. Despite the downward revision, the market generally believes that continued central bank purchases, geopolitical risks, and government debt pressures will still support gold's long-term trend. Meanwhile, analysts also lowered silver price forecasts, expecting an average of $72 per ounce in 2026, down from the previous $78. Additionally, Commerzbank again lowered its year-end gold target to $4,500 per ounce and its silver target to $67 per ounce. The bank believes that current market expectations for further Fed tightening are too high; if inflation pressures ease and the Fed keeps rates unchanged, gold still has the potential to strengthen again in the future.

[Reuters: Wall Street Lowers Gold Price Forecast for First Time in 11 Quarters, Central Bank Purchases Still Support Long-Term Outlook]July 29 – According to a Reuters survey, analysts have lowered their gold price forecasts for the first time since the end of 2023. 29 analysts and traders expect the average gold price in 2026 to be $4,509 per ounce, down from the $4,916 predicted three months ago; the 2027 average forecast falls to $4,610 per ounce, down from the previous $5,100. Despite the downward revision, the market generally believes that continued central bank purchases, geopolitical risks, and government debt pressures will still support gold's long-term trend. Meanwhile, analysts also lowered silver price forecasts, expecting an average of $72 per ounce in 2026, down from the previous $78. Additionally, Commerzbank again lowered its year-end gold target to $4,500 per ounce and its silver target to $67 per ounce. The bank believes that current market expectations for further Fed tightening are too high; if inflation pressures ease and the Fed keeps rates unchanged, gold still has the potential to strengthen again in the future.

Reuters: Wall Street Lowers Gold Price Forecast for First Time in 11 Quarters, Central Bank Purchases Still Support Long-Term Outlook

Market data shows that ETH has dropped below $1900, currently at $1899.69, with a 24-hour gain of 1.16%. The market is highly volatile; please manage your risks accordingly.

[ETH Drops Below $1900]Market data shows that ETH has dropped below $1900, currently at $1899.69, with a 24-hour gain of 1.16%. The market is highly volatile; please manage your risks accordingly.

ETH Drops Below $1900

On July 29, South Korean stocks continued their sharp decline for a second consecutive day, as SK Hynix's second-quarter earnings fell short of expectations, extending the sell-off in chipmakers, while retail investors reduced their holdings. After falling 10% on Tuesday, the KOSPI index dropped another 8% on Wednesday. So far in July, the KOSPI index has fallen more than 30%, and the monthly decline is on track to be the worst on record. Earlier this year, the index surged sharply, almost entirely driven by Samsung Electronics and SK Hynix. After a 14% drop on Tuesday, SK Hynix saw its shares plunge 12% on Wednesday, with the two-day decline erasing about one-fifth of its market value. Investors are now awaiting earnings reports from Samsung Electronics and other major U.S. tech companies on Thursday. (Jin Shi)

[SK Hynix Loses About One-Fifth of Market Cap in Two Days, KOSPI Drops 18%]On July 29, South Korean stocks continued their sharp decline for a second consecutive day, as SK Hynix's second-quarter earnings fell short of expectations, extending the sell-off in chipmakers, while retail investors reduced their holdings. After falling 10% on Tuesday, the KOSPI index dropped another 8% on Wednesday. So far in July, the KOSPI index has fallen more than 30%, and the monthly decline is on track to be the worst on record. Earlier this year, the index surged sharply, almost entirely driven by Samsung Electronics and SK Hynix. After a 14% drop on Tuesday, SK Hynix saw its shares plunge 12% on Wednesday, with the two-day decline erasing about one-fifth of its market value. Investors are now awaiting earnings reports from Samsung Electronics and other major U.S. tech companies on Thursday. (Jin Shi)

SK Hynix Loses About One-Fifth of Market Cap in Two Days, KOSPI Drops 18%

On July 29, according to Lookonchain monitoring, a trader made a profit of over $1.2 million in less than 7 hours, with a return rate of 77 times. Six hours ago, the trader at address 0x4c8f spent 8.39 ETH (worth $16,000) to buy 293.75 million PIPEDOG. They then sold 34.55 million PIPEDOG, receiving 32.67 ETH (worth $62,000), and currently hold 259.2 million PIPEDOG, with a market value of $1.18 million. The total profit has exceeded $1.2 million, achieving a return of 77 times.

[Trader Makes Over $1.2M in Less Than 7 Hours Trading PIPEDOG]On July 29, according to Lookonchain monitoring, a trader made a profit of over $1.2 million in less than 7 hours, with a return rate of 77 times. Six hours ago, the trader at address 0x4c8f spent 8.39 ETH (worth $16,000) to buy 293.75 million PIPEDOG. They then sold 34.55 million PIPEDOG, receiving 32.67 ETH (worth $62,000), and currently hold 259.2 million PIPEDOG, with a market value of $1.18 million. The total profit has exceeded $1.2 million, achieving a return of 77 times.

Trader Makes Over $1.2M in Less Than 7 Hours Trading PIPEDOG

On July 22, Russian Foreign Minister Lavrov stated that the meeting with U.S. Secretary of State Rubio has been scheduled for tomorrow.

[Russian Foreign Minister Lavrov: Meeting with U.S. Secretary of State Rubio Scheduled for Tomorrow]On July 22, Russian Foreign Minister Lavrov stated that the meeting with U.S. Secretary of State Rubio has been scheduled for tomorrow.

Russian Foreign Minister Lavrov: Meeting with U.S. Secretary of State Rubio Scheduled for Tomorrow

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