International News 08 June 2026
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China Extends Gold Buying Streak
China’s central bank continued to expand its gold reserves despite recent weakness in gold prices, underscoring Beijing’s commitment to strengthening alternative reserve assets amid ongoing economic and geopolitical uncertainty. According to Bloomberg, the People's Bank of China (PBOC) added 320,000 troy ounces of gold to its reserves in May 2026. The latest purchase marks the 19th consecutive month of gold accumulation, representing China’s longest uninterrupted buying streak since at least 2015, when the central bank began reporting reserve data more regularly. Notably, the purchases have continued even as gold prices face downward pressure. Gold recorded its third straight monthly decline in May after reaching a record high in late January. The pullback has been driven by persistent inflation concerns and expectations that global interest rates will remain elevated for longer, reducing the appeal of non-yielding assets such as gold compared with higher-return interest-bearing investments.
https://internasional.kontan.co.id/news/cadangan-emas-china-19-bulan-nonstop-beli-saat-harga-anjlok
US Considers Seizing Iranian Assets
The United States is reportedly exploring plans to redirect Iranian assets toward Gulf nations to help fund reconstruction efforts and repair infrastructure damaged by recent Iranian military attacks. The move follows another wave of drone and missile strikes launched by Tehran against Kuwait and Bahrain. According to Reuters, a source familiar with the matter said U.S. Treasury Secretary Scott Bessent has instructed a special task force to assess the full extent of losses suffered by Washington’s Gulf allies. The source added that the U.S. is also considering broader measures, including the potential seizure of Iranian assets to cover damages from future attacks. The development comes just one day after Mohsen Rezaei told CNN that any peace agreement to end the three-month conflict would largely depend on the release of approximately US$24 billion in Iranian assets currently frozen by the United States.
US-Iran Tensions Escalate in Hormuz
The Gulf region saw renewed tensions on Saturday after U.S. forces struck Iranian coastal radar installations following the interception of drones launched toward the Strait of Hormuz, according to the U.S. military. The latest escalation is expected to further complicate efforts to bring an end to the ongoing conflict between Washington and Tehran. A U.S. official told Reuters that the four Iranian drones were believed to be targeting regional maritime traffic. Following the interceptions, U.S. Central Command said it carried out strikes on Iranian surveillance sites in Goruk and Qeshm Island, both strategically located along the Strait of Hormuz. In response, Iran’s Foreign Ministry accused Washington of violating the April 8 ceasefire agreement, arguing that the repeated incidents demonstrate a lack of commitment to de-escalation. Tehran also warned that the United States would bear responsibility for the consequences of its “illegal actions”.