Trump says if no agreement is reached, all Iran power plants will be attacked; Huaxia Gold ETF (518850) halts four consecutive days of gains.

According to Caixin, on Thursday morning Beijing time, as U.S. President Trump delivered a nationwide speech, global financial markets were shaken: Asia-Pacific stocks fell, the U.S. dollar strengthened, and oil prices surged. Trump’s speech shattered investors’ expectations of a quick ceasefire between the U.S. and Iran.

On April 2, spot gold fell nearly 2% intraday, to $4,670.46 per ounce. By midday close, Gold ETF Huaxia (518850) dropped 0.9%, ending a four-day winning streak; non-ferrous metal ETF Huaxia (516650) fell 1.31%, with holdings in Ganfeng Lithium leading a 4.07% rise, and stocks like Aluminum Corporation of China, Tianqi Lithium, and Shenhuo Group all gaining strength, while Tin Industry Co., Yunnan Zinc Industry, and Hunan Gold saw sharp declines.

According to CCTV News, on April 2, U.S. President Trump stated that the U.S. previously did not need the Strait of Hormuz, and now does not need it either. Additionally, Trump said that if no agreement is reached, the U.S. will launch fierce strikes on all of Iran’s power plants. Trump also mentioned that the U.S. is conducting close surveillance and control over these facilities via satellites. If any movement is detected from the other side, the U.S. will immediately launch missiles to deliver a “destructive” blow.

Changjiang Nonferrous Metals Analysis pointed out that as April 3 approaches the weekend, attention should be focused on the U.S. March non-farm payroll data, the escalation of Middle East geopolitical tensions, and Federal Reserve officials’ speeches, warning of sharp fluctuations in market sentiment and policy expectations in both directions. This event is not just short-term emotional speculation; the two major risks to watch are the escalation of Middle East tensions and the further delay of the Fed’s rate cut expectations. Industry participants should focus on energy-sensitive quality assets, seize structural opportunities, and also manage inventories and hedge risks to avoid sharp price volatility.