Galaxy Futures: US and Iran Temporarily Cease Fire, Gold and Silver Rebound

Last night and this morning, after an extreme standoff between the US and Iran, with mediation by countries including Pakistan, both sides agreed to a ceasefire within two weeks. Meanwhile, regarding the 10-point plan proposed by Iran, the US said it provides a basis for negotiations. This marked the first time that the two sides reached preliminary agreement since the outbreak of the conflict in late February, greatly easing market tensions, with energy prices and the US dollar both retreating. Coupled with yesterday’s announcement from the People’s Bank of China that it increased its gold holdings by 4.98 tons in March—the largest monthly increase since February 2025—this boosted market confidence in the central bank’s continued preference for gold assets. Overall, downward pressure on precious metals represented by gold has eased, while the support logic has also shown positive signals, thereby supporting a strong rebound in prices. (Galaxy Futures)