Iran was also said to be weighing a voluntary fund that would see European states contribute toward the cost of maintaining the strait. Separately, Saudi Arabia was reported to have struck Yemen's capital, Sanaa, a reminder that regional tensions remain far from fully resolved even as the Hormuz diplomacy advances. The move underscores how closely gold has been tracking the ebb and flow of the diplomatic process this week, even as central bank buying and Asian ETF inflows continue to provide a structural floor beneath prices. Separate data from ANZ showed New Zealand's World Commodity Price Index fell 3.9% in July, the largest monthly drop since November 2022, though the index remains up 0.5% on the year. Separately, the People's Bank of China set its daily USD/CNY reference rate at a fresh 41 month high for the yuan.