BlockBeats message, April 2: Spot gold rose 0.8% during the day, briefly breaking above 4,800 dollars per ounce, or may have recorded a fifth consecutive trading day of gains. Market analysis believes that a resonance between geopolitical developments and policy expectations is driving a continuous inflow of safe-haven capital into gold prices.
In the news, Trump plans to announce during a gold-price broadcast that the U.S. military action against Iran has “achieved all objectives,” the war is nearing its end, and it paves the way for the U.S. to gradually withdraw from the conflict.
At the same time, the U.S. may hand over the issue of shipping disruptions in the Strait of Hormuz to NATO and European and Gulf countries for handling, showing that the United States is seeking a “dignified exit” route.
Against the backdrop of Iran continuing to restrict navigation through the strait and international oil prices breaking above 100 dollars per barrel, concerns about uncertainty in the Middle East situation and an energy shock have been intensifying. Combined with the policy games and alliance differences under expectations that the war will be “wrapped up,” safe-haven demand has been further strengthened, pushing gold prices to keep climbing.
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