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On June 1, spot gold fell below $4500 per ounce, with a daily decline of 0.90%. (Jin Shi)

```htmlGolden Ten Data reported on June 1 that Phil Smith, Deputy Director of Economics at S&P Global Market Intelligence, stated: "The recovery in Germany's manufacturing sector stalled in May, confirming the warning signals recently issued by PMI surveys—that growth driven by lead orders may fade. The true underlying health of demand appears to be emerging, as new orders saw their first decline this year against a backdrop of continued high uncertainty and surging prices. Cost pressures across the entire manufacturing industry are steadily rising, although output price inflation remained broadly stable compared to April, as weak demand prompted some manufacturers to be more cautious in their pricing strategies."```

Golden Ten Data reported on June 1 that the direction of deferred compensation payments is as follows: Au(T+D) — long pays short, Ag(T+D) — long pays short.