A U.S. bank research report said that since the 1970s, the global economy’s reliance on oil has declined, and the oil required now is only one-third of that at the time, with economic resilience strengthening. In addition, Haitong Securities’ analysis found that gold did not exhibit safe-haven characteristics; after experiencing a pullback due to geopolitical shocks, it rebounded.

On April 10, the precious metals market was strong: gold rose to $4,773.60 per ounce, and silver rose to $76.364 per ounce. In the crypto market, volatility eased, the FX market saw the U.S. dollar weaken versus the Chinese yuan, and global equity indexes rose. In commodities, WTI crude oil rose while Brent crude oil fell. The Gate platform supports trading a variety of financial assets.

Banks such as Australia and New Zealand Banking Group (ANZ) and investment banks like Goldman Sachs predict that gold may rebound in the long term, mainly driven by central bank demand, geopolitical uncertainty, and expectations that the Federal Reserve will cut interest rates. ANZ expects the gold price to reach $5,800 by year-end, while Goldman Sachs maintains a $5,400 outlook, saying that central bank gold purchases will be a support factor.

On April 10, Abraxas Capital closed out short positions of about $160 million in WTIOIL and BRENTOIL on the Hyperliquid platform, generating roughly $10.15 million in profits. Its current main positions are a $20.5 million long position in BTC and a $30.8 million short position in gold.

April 10, gold and silver prices fell slightly, trading at $4,758.37 per ounce and $75.165 per ounce, respectively. The Bitcoin Volatility Index (BVIX) dropped to 44.36, and in the foreign exchange market, the U.S. dollar rose against the offshore yuan and the Japanese yen. Major European stock indexes generally declined, while WTI and Brent crude oil rose slightly. The Gate platform supports trading a variety of financial market products.

Gate News update: On April 9, according to Gate data, spot gold strengthened in the short term by $14, breaking through $4,780 per ounce, with an intraday gain of 1.28%.

Gate News message, on April 9, the all-chain deployment version of Tether Gold (XAUt), XAUt0, is now live on Conflux, introducing tokenized gold that can be seamlessly transferred between supported chains. Previously, USDT0 was launched on Conflux, providing unified dollar liquidity.

Gate News message, April 9, the head of the National Bank of Poland, Glapiński, said the National Bank of Poland will continue to buy gold. Glapiński reiterated the target to increase gold reserves to 700 tons; the National Bank of Poland currently holds 580 tons of gold.

On April 9, gold and silver prices fell slightly, and BVIX and EVIX showed that Bitcoin and Ethereum volatility declined. The U.S. dollar rose slightly against the Chinese yuan and the Japanese yen. The Euro 50 index rose, while stock indexes in the UK and Germany fell. WTI and Brent crude oil prices increased somewhat. The Gate platform integrates products from traditional financial markets, allowing users to trade a variety of assets conveniently.

Gate News message: On April 8, spot gold broke through the 4800 USD/oz whole-dollar threshold. It is currently quoted at 4801.03 USD/oz, up 2.02% intraday.