Spot gold once surged past $4,800, marking the world's fourth consecutive increase in gold prices.

On the morning of April 2nd, spot gold prices surged past the $4,800 per ounce mark. As of the time of this report from Jiemian News, spot gold was at $4,785.26 per ounce, up 0.57%. The global gold price has risen for the fourth consecutive trading day.

This round of gold price increases is mainly driven by two major factors. On one hand, the US dollar index declined for the second consecutive trading day, closing at 99.55 on Tuesday, down 0.33%, reaching a one-week low during the session. The weakening dollar directly increased the attractiveness of dollar-denominated gold for holders of other currencies, lowering the barrier for non-US investors to buy gold. On the other hand, market cautious optimism about a possible easing of tensions in the Middle East further boosted the precious metals market.

According to CCTV News, U.S. Secretary of Defense Lloyd Austin said on March 31 that the United States’ current “top priority” is to seek an agreement to end the conflict with Iran. Iranian President Ebrahim Raisi stated on the same day that Iran is willing to end the war, but only if its demands are met, especially guarantees of non-aggression.

Additionally, Xinhua News Agency reported that U.S. President Donald Trump said on the evening of March 31 at the White House that the U.S. would end its conflict with Iran within “two to three weeks,” possibly reaching an agreement with Iran before that.

“From a long-term perspective, the logic supporting the long-term rise of gold prices has not changed. Investors can appropriately allocate assets in gold and silver, avoid focusing on short-term fluctuations, and consider buying on dips and holding long-term. This is a correct strategy. Short-term trading can easily lead to losses,” Yang Delong, Chief Economist at Qianhai Kaiyuan Fund, told Jiemian News.

CITIC Futures analysis pointed out that the rebound in gold prices is mainly driven by two factors: first, the market is beginning to price in the possibility of a marginal easing of tensions in the Middle East, which has temporarily cooled the inflationary pressures caused by previous oil price surges; second, Federal Reserve Chair Jerome Powell stated that long-term inflation expectations remain under control, and policy is in a “wait-and-see” position, reducing market concerns that the Fed would tighten policy immediately due to supply shocks caused by the war.

Looking ahead, many institutions believe that multiple factors will continue to support gold price increases. Huaxi Securities’ research report suggests that, influenced by expectations of Fed rate cuts, the instability of the US dollar, midterm elections in the US, and geopolitical uncertainties, gold prices are expected to further rise. Guotai Haitong’s research report indicates that rising global geopolitical uncertainties and ongoing central bank gold purchases support a long-term gold price ceiling, and gold prices remain quite resilient.