A research report from China International Capital Corporation (CICC) notes that the Iran–U.S. conflict has pushed up oil prices, increasing inflation risks, affecting expectations for Fed rate cuts, and driving selling of gold ETFs. Geopolitical developments put oil prices at a crossroads, while the gold market is focused on how an economic downturn could affect it; in the future, it may reassess expectations for rate hikes. Demand for gold investment and prices may have room to rise.

A court in Honggang District, Daqing City, Heilongjiang Province, ruled that two men were convicted of stealing electricity by illegally tapping an oil-field high-voltage power line to power Bitcoin mining. The principal offender, Zhang, was sentenced to 10 years in prison and fined 50,000 yuan, while the accomplice, Zhao, was sentenced to 4 years and 10 months and fined 20,000 yuan. The total value of the stolen electricity exceeded 800,000 yuan.

This week, due to Trump’s tough remarks targeting Iran, gold prices fell, with spot gold and futures down 2% and 2.5%, respectively. Rising oil prices boosted inflation expectations, reducing gold’s appeal. In addition, the entire precious metals complex faced pressure: UBS cut its gold price outlook, so investors need to watch how the situation in the Middle East and market volatility affect prices.

In 2026, tensions in the Middle East led Americans to face an economic burden, with the cost of military operations ranging from $30 billion to $45 billion, increasing spending by about $2.5 to $3.8 per person per day. Oil prices rose due to the conflict, driving up household fuel and living costs, intensifying inflation pressure, and affecting interest rates and financial markets, which could trigger greater risks.

With expectations of a easing in the Middle East situation, Asian stock markets moved higher across the board, and falling oil prices eased market tensions. Despite pressure on crypto-related stocks on trading platforms, Bitcoin mining stocks performed strongly, indicating a trend of capital being reallocated. The market remains cautious about geopolitical developments and the outlook will be shaped by multiple factors.

On April 3, precious metal prices fell, with gold and silver dropping 1.72% and 2.81%, respectively. The volatility index dipped slightly, and most of the foreign exchange market remained flat. European stock indexes were broadly lower, except for the UK FTSE 100, which rose slightly. Meanwhile, oil prices surged significantly, with WTI up 13.01% and Brent up 8.09%.

Gate News update: On April 2, according to Gate data, both U.S. and Brent crude oil (WTI crude oil, Brent crude oil) saw a sharp drop in the short term. WTI crude oil (U.S. West Texas Intermediate crude oil futures) fell by nearly $5, to $108.93 per barrel. The report says Iran is drafting a Strait of Hormuz transit agreement with Oman.

Gate News update: On April 2, U.S. front-month crude oil futures (the contract about to expire) set record highs for the premium versus next-month futures (the contract due to expire next month), and also for the premium versus seven-month futures (the contract due to expire seven months later).

On April 2, gold and silver prices fell to $4,596.98 per ounce and $70.366 per ounce, respectively. The volatility indices BVIX and EVIX rose slightly. The U.S. dollar strengthened slightly against the Chinese yuan and the Japanese yen. Major European stock indexes generally declined, while U.S. crude oil prices rose by 13.45%. The Gate platform supports trading across a variety of financial market products.

BTC OG insider mega-whale agent Garrett Jin analyzes President Trump’s speech, saying it suggests a commitment to a hot war, and that the escalation of the Middle East conflict is already set in stone. He notes that the market hasn’t priced this in, that the near-term rebound is driven by positioning, and that the absence of any solution to the war will continue to weigh on oil supply and raise risks for importing countries. A 6% jump in oil prices reflects the reality of the conflict escalating.