Analysis: Trump shattered hopes for a ceasefire, causing a stampede in gold and silver prices in the afternoon.

CoinFeed reported on April 2nd that, according to Jinshi, international gold and silver prices continued to plummet as Trump indicated he would continue military action in Iran in the coming weeks, dashing investors' hopes for a clear timeline for the war's end. This pushed up oil prices and dampened hopes for interest rate cuts. Spot gold fell below $4,590 per ounce in the afternoon, dropping more than $150 on the day, while spot silver plunged 6%. Independent metals trader Tai Wong said, "Trump's tone was quite tough, mentioning aggressive plans for the coming weeks. This suggests that the optimism of the past few days has been too high, and some pullback is expected before the long weekend." Ten Cap's chief portfolio manager, Jun Bei Liu, said, "Thursday's decline may also be due to investors choosing to take profits before the long Easter weekend."