Market participants continued to assess the implications of the new tariff policies announced by the Trump administration and recent U.S. economic data released last Friday. Concerns are growing that the new tariffs could further cloud the U.S. economic outlook, already facing significant slowdowns. This uncertainty, combined with ongoing variables in U.S.-Iran negotiations and Russia-Ukraine peace talks, has led to a substantial increase in safe-haven buying within the precious metals market. Consequently, international gold and silver prices rose significantly during the Asian trading session on the 23rd, with gold approaching the key psychological level of $5,200 per ounce.

As of 9:35 AM Beijing Time on the 23rd, the spot price of gold in London was quoted at $5,156.59 per ounce, marking an increase of 1.13%. The spot price of silver reached $87.447 per ounce, rising by 3.40%. Meanwhile, the most active April gold futures contract on the New York Mercantile Exchange traded at $5,180.52 per ounce, up 1.96%. The March silver futures contract was priced at $87.195 per ounce, surging 5.89%.