Pakistani Prime Minister visited Beijing in a bid to upgrade cooperation under the multi-billion dollar China-Pakistan Economic Corridor, a key part of Beijing's Belt and Road Initiative.

After surging to a record above $2,450 an ounce, bullion has traded in a fairly narrow range amid the uncertainty over the Fed’s rate trajectory.

China's iron ore imports in the first five months reached 513.75 million tons, a year-on-year rise of 7%.

China accounts for 70% of rare earths mining globally and 90% of refined output.

The People's Bank of China was the largest official sector buyer of gold in 2023.

Stockpiles of the metal held in Shanghai Futures Exchange warehouses ended last week well above 300,000 tonnes.

Iron ore futures extended their decline to a fifth straight session on Wednesday.