The current Middle East situation remains tense. Although indirect negotiations between the US and Iran have entered a framework consultation stage, core disagreements remain unresolved: the US demands Iran permanently dismantle nuclear facilities and cease uranium enrichment, while Iran only agrees to a short-term suspension, leading to increased standoffs. The US military has deployed dual aircraft carrier groups to the Persian Gulf, Iran has strengthened military alertness and warned of possible blockade of the Strait of Hormuz. Risks to Red Sea shipping continue to rise, causing significant fluctuations in international oil and gold prices driven by risk aversion.

The border conflict between Pakistan and Afghanistan's Taliban has fully escalated. Pakistan launched cross-border airstrikes targeting border militant positions and command facilities, resulting in casualties on both sides and a surge in border refugees. Multiple countries have initiated diplomatic mediation, calling for restraint and avoiding further escalation. Meanwhile, conflicts in Ukraine, Sudan, and other regions persist, leading to overall increased geopolitical risks and instability worldwide.