Spot gold rises above $4,700, as brokers say: Gold panic selling has stopped

GateUser-bd883c58 · 2026-04-09T03:18:45+00:00

Although geopolitical tensions have eased, gold remains attractive, with spot gold prices breaking through $4700. Market demand for gold is supported by central bank holdings and bottom-fishing capital, and future trends will still depend on Federal Reserve policies and changes in geopolitical situations.

GateUser-bd883c58

2026-04-09 03:18:45

Abstract generation in progress

Ask AI · Why hasn’t easing geopolitical tensions weakened gold’s appeal?

On the morning of April 1 Beijing time, spot gold broke above $4,700, trading at $4,703 per ounce. Gold rose more than 0.7% during the day, while silver hovered around the $75 level and was recently at $74.9 per ounce.

On the news front, last night, the U.S. and Iran signaled a willingness to reach a ceasefire. According to CCTV News, Iranian President Masoud Pezeshkian said that Iran is willing to end the war, but only on the condition that its demands are met—especially assurances that it will not be subjected to aggression again.

Based on broker viewpoints, gold’s panic-driven selling has stopped, and bargain-hunting funds and central bank purchases provide support for gold prices, but the pullback has not ended. The subsequent trend will depend on the Federal Reserve’s policies and geopolitical developments. In addition, the underlying logic supporting gold’s long-term bull market has not experienced any fundamental shift. Global central bank demand for gold remains strong. Data from the World Gold Council shows that central banks in emerging markets such as Guatemala, Indonesia, and Malaysia have recently begun buying gold.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.