Influenced by factors such as a decline in risk appetite and a weakening U.S. dollar index, international gold and silver prices have continued to rebound, with gold prices recording their largest single-day gain since 2009 on the 3rd. In subsequent overnight trading, gold and silver futures prices continued to recover, with gold prices rising above $5,000 per ounce again. On the 3rd, the April gold futures price on the New York Mercantile Exchange surged by more than 7% during the session, while the March silver futures price climbed back above $80 per ounce, with an intraday increase of over 15%. Analysts believe that the rebound in gold and silver prices indicates that the previous sharp correction does not signify a shift in market fundamentals. Ipek Ozkardeskaya, a market analyst at Swissquote Bank, stated that the factors supporting gold prices since last year remain solid, with ongoing uncertainties in global trade and geopolitics, unsustainable debt conditions in the United States, Japan, and Europe, and fragile demand for the U.S. dollar, other major currencies, and sovereign bonds. These fundamental factors will continue to support the rise in precious metal prices. Ozkardeskaya also warned that while gold has traditionally been used as a hedge against market risks, its current performance exhibits characteristics of a risk asset, indicating increasing market risks. Michael Hsueh, Head of Metals Research at Deutsche Bank, noted that precious metal investors should remain cautious about market volatility, but the fundamentals of gold investment remain unchanged, and gold prices are still expected to reach $6,000 per ounce by the end of the year.
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