Crude oil bulls are waiting for the opportunity, Iran's "Ten Point Plan" VS Trump's ultimatum, gold price is at 4660 mark, waiting for the market to return from the holiday

Basic news

In early trading in Asia on Tuesday (April 7, Beijing time), spot gold was trading around US$4,660 per ounce. The price of gold fell slightly on Monday. Although Trump once again threatened that Iran would "taste hell" if no agreement was reached by Tuesday, Iran sought to maintain stability. At the same time, Iran proposed a ten-point peace roadmap to lift the blockade in exchange for a ceasefire; U.S. crude oil traded around $112.76 per barrel. Oil prices rose in volatile trading on Monday. The market focused on returning from the holidays, reacting to the postponement of non-agricultural employment last Friday, and paying attention to the latest developments in the situation in Iran. Trump said that Iran's bridge power plant could be destroyed in four hours.

Stock Market

U.S. stocks closed higher on Monday, with the Dow Jones Industrial Average rising 0.36%, the S&P 500 Index rising 0.45%, and the Nasdaq www.xmtraders.composite Index rising 0.54%. Among the three major stock indexes, the S&P 500 and Nasdaq www.xmtraders.composite Index closed higher for the fourth consecutive trading day, the longest consecutive rise since January.

On the one hand, investors are assessing the progress of the US-Iran ceasefire negotiations, and on the other hand, they are weighing Trump's threat to intensify strikes if Iran does not reopen the Strait of Hormuz.

According to the Iranian News Agency, Iran rejected the U.S. proposal for an immediate ceasefire and insisted on a permanent end to the war. However, relevant parties are still negotiating the terms of a potential ceasefire, which has brought some relief to the market.

In terms of economic data, U.S. employment growth far exceeded expectations in March (178,000 new jobs were added, the unemployment rate fell), but the ISM non-manufacturing PMI showed that the expansion of the service industry slowed down, and input prices hit a three-year highSemi high.

The market is focusing on the upcoming earnings season, with optimism that corporate performance will support the bull market. Although the recent geopolitical conflict has caused stock market volatility, the S&P 500 has fallen 3.9% since the conflict began.

Gold Market

Gold prices fell slightly on Monday, with spot gold falling 0.4% to $4,654.99 per ounce, as investors paid close attention to the latest developments in the situation between the United States and Iran and awaited further signals on the deadline for the reopening of the Strait of Hormuz.

U.S. President Trump has threatened to give Iran "a taste of hell" if an agreement is not reached by Tuesday, but Iran is seeking a lasting ceasefire and resisting pressure for a temporary ceasefire. Analysts at TD Securities pointed out that if the conflict continues, rising oil prices will intensify inflationary pressures, which may limit the Fed's space to relax policy and even reignite discussions about raising interest rates, which will be negative for gold.

Investors are also focused on the minutes of the Federal Reserve’s March policy meeting to be released on Wednesday, U.S. personal consumption expenditure data on Thursday and the consumer price index on Friday. Currently, CME's FedWatch tool shows that most traders believe there is zero chance of the Fed cutting interest rates this year.

In terms of other precious metals, spot silver fell 0.3% to US$72.81 per ounce, platinum fell 0.6% to US$1,976.21, and palladium fell 1.1% to US$1,487.22.

Oil market

Oil prices rose in volatile trading on Monday, with Brent crude oil futures closing up 0.68% at US$109.77 per barrel, and US crude oil futures closing at US$112.40 per barrel, up 0.78%. Despite indirect negotiations between the United States and Iran, the rhetoric of both parties continued to escalate.

The blockade of the Strait of Hormuz has blocked about one-fifth of the world's oil supply, and major consuming countries are seeking to reserve or reduce consumption; the United States and Iran received a framework plan proposed by Pakistan, but Iran refused to immediately reopen the strait, and Trump threatened to "go to hell" if no agreement is reached by Tuesday.

Analysts pointed out that some ships had passed through the strait over the weekend and became the focus of the market. Last Thursday, U.S. oil and Brent oil surged 11% and 8% respectively, the largest single-day gains since 2020. On the supply side, OPEC+ agreed to slightly increase production by 206,000 barrels per day in May, and Saudi Aramco raised the official selling price of Arabian Light crude oil to Asia in May to a record high of $19.50 per barrel higher than the Oman/Dubai average price. In addition, a Ukrainian drone attack caused the Russian Ust-Luga export terminal to temporarily suspend operations, but shipments resumed on Saturday.

Forex Markets

The U.S. dollar index held steady on Monday as traders weighed escalation in Iran against hopes for a ceasefire ahead of Trump's latest deadline to reopen the Strait of Hormuz. Trump threatened in an Easter Sunday post to hit Iranian power plants and bridges if the strait was not reopened, but media said negotiators were making a last-ditch effort and investors were assessing the possibility of a ceasefire.

The U.S. dollar index was at 100 in late trading.The euro was at $1.1542 and the pound was at $1.324. The yen fell to 159.71 against the US dollar, approaching the 160 mark and a 21-month low; Japanese officials issued tough warnings, but geopolitical turmoil supported demand for safe-haven dollars, and the market was skeptical of substantive intervention. Speculative yen short positions reached US$5.7 billion, the highest since July 2024. The blockade of the Strait of Hormuz has heightened concerns about stagflation, and traders now don't expect the Federal Reserve to cut interest rates until the second half of 2027, www.xmtraders.compared with two rate cuts in 2026 at the beginning of the year. The Australian dollar rose 0.49% to $0.692, still hovering near two-month lows.

International News

Iran proposed a ten-point peace roadmap to lift the blockade in exchange for an armistice

According to Iranian official media reports, Iran submitted a ten-point proposal on Monday aimed at ending the conflict with the United States and Israel. The package was conveyed by Pakistan, the main mediator, but it appeared difficult to resolve core differences before Trump's Tuesday night deadline for launching a new round of strikes against Iran. Senior Iranian officials said the proposals include guarantees that Iran will not be attacked again, an end to Israel's attack on Hezbollah in Lebanon, and a www.xmtraders.complete lifting of sanctions. In exchange, Iran will lift its de facto blockade of the Strait of Hormuz and charge about $2 million for each passing ship, split with Oman across the strait. Iran will use its share of the proceeds to rebuild destroyed infrastructure rather than seek direct www.xmtraders.compensation. Iranian state media said the proposed text "rejects a ceasefire" and emphasizes "the need to permanently end the war in accordance with Iran's demands." The media also stated that Iran has "demonstrated its superior position in the war." After blocking the Strait of Hormuz and shooting down a US F-15E fighter jet, Iranian leaders are said to have gained confidence. Although state media did not publish the full text of the proposal, they said it included an agreement on safe passage through the Strait of Hormuz and Iran's demands for the lifting of sanctions, rebuilding infrastructure and an end to regional hostilities. Previously, the United States submitted a 15-point ceasefire proposal through Pakistan on March 24, but it was rejected by Iran. Iran later submitted a counter-proposal, parts of which were reiterated in Monday's package.

Trump said that Iran’s bridge power plant was destroyed in 4 hours

On the afternoon of April 6, local time, and in the early morning of April 7, Beijing time, U.S. President Trump stated at the White House press conference that the U.S. military “has actually formulated a plan. Once launched, within 4 hours from 8 pm to 12 pm Eastern Time on April 7, every bridge in Iran will be www.xmtraders.completely destroyed, and every bridge in Iran will be www.xmtraders.completely destroyed. A power plant will be www.xmtraders.completely paralyzed, caught in flames, explode, and never be used again. Everything will be www.xmtraders.completely reduced to rubble, and the whole process will only take just 4 hours.”

Trump proposes to seize oil and strait tolls: “The spoils belong to the winner”

US President Trump proposed at a press conference on Monday the idea that the United States could charge ships to pass through the Strait of Hormuz. When askedWhen Iran planned to charge tolls on passing ships, Trump responded: "Why don't we collect it? We are the winners. We won. Okay? They have been defeated militarily." Trump also regards himself as a businessman and talks about taking over Iran's oil once the conflict is resolved. He said: "The spoils belong to the victor."

Trump said that the war in Iran depends on Iran's response to the "deadline"

U.S. President Trump said at a press conference held at the White House on the 6th that whether the war against Iran is about to escalate or is close to ending depends on Iran's response to the "deadline" he set at 20:00 Eastern Time on the 7th. "This is a critical period," Trump said. "Their deadline is tomorrow. Now, we're just waiting to see how things develop." He also said that Iran is negotiating and "we believe that they are talking in good faith." Trump also threatened Iran: "The entire country could be destroyed overnight, and that night could be tomorrow night."

The United States dropped 100 heavy bombs during the rescue operation

According to U.S. officials, U.S. B-1 bombers dropped approximately 100 bombs, each weighing 2,000 pounds, during the mission to rescue the second crew member of an F-15E fighter jet that was shot down in Iran. One of the officials said that to ensure the success of the mission, the bombs were dropped on roads, personnel and positions of the Iranian Revolutionary Guard Corps. The US military focused on destroying roads near the rescue site to prevent Iran from approaching US troops and aircraft.

Trump said that Iran will lose nothing if it refuses to surrender

On April 6, US President Trump told the media about Iran when attending an event at the White House that Tuesday, Eastern Time (April 7) is the deadline and "cannot be changed." Trump once again emphasized that "Iran cannot possess nuclear weapons", saying that during his first term, he tore up the www.xmtraders.comprehensive agreement on the Iranian nuclear issue and assassinated Soleimani, the then www.xmtraders.commander of the "Quds Force" affiliated with Iran's Islamic Revolutionary Guard Corps, "thus preventing Israel from being wiped off the map." Trump insisted that "regime change" had been achieved in Iran, saying the Iranian leadership now negotiating with the United States was "more reasonable." But he also said that "they (Iran) just refuse to admit defeat, but they will eventually give in - if they don't give in, they will have nothing." Trump also said that if he was given a choice, he would "take away (Iran's) oil" because "the oil is readily available and they (Iran) can't do anything about it." Trump said, "Unfortunately, the American people want us to go home - if it were up to me, I would take the oil, I would keep the oil for myself, and I would make a lot of money." When asked by a reporter, "Since the United States has repeatedly claimed that Iran's military power has been destroyed, why is the war still going on?" At that time, Trump said, "They (Iran) still have some missiles and some drones. They were lucky and shot down a (US military) plane."

U.S. Vice President Vance is on standby to participate in Iran negotiations at any time

At the moment, the U.S. Vice PresidentVance is on standby. If the current negotiations carried out through secret channels advance to the stage where direct meetings with Iranian officials are required, he will immediately participate in this extremely sensitive US-Iran negotiation. According to people familiar with the matter, the negotiations are currently being led by the President’s special envoy Steve Witkoff and the President’s son-in-law Jared Kushner. If the two men make significant progress, Vance will be added to the negotiating team. It's unclear what concessions Iran might have to make. Trump hinted at the personnel arrangement on Monday, which means Vance has clarified his position in this conflict. He is emerging as a key player as the White House searches for a way to end the war.

The Iranian military said that it will continue to fight as long as the political leadership deems it "appropriate"

According to a report by the Iranian Student News Agency on the 6th, an Iranian military spokesman said that as long as the political leadership deems it "appropriate," "we can continue this war." The spokesman said that after this war, Iran's deterrence will reach "a level that will prevent the enemy from launching any more attacks."

South Korea’s national debt increased by nearly 600 billion yuan last year, accounting for half of GDP

South Korea’s national debt increased by nearly 130 trillion won (approximately RMB 594.61 billion) last year, with the total scale exceeding 1,300 trillion won, accounting for nearly 50% of the gross domestic product (GDP). The South Korean government reviewed and approved the "National Final Accounts Report for the 2025 Fiscal Year" at the State Council on the 6th. The report shows that last year’s national debt (total of central and local governments) was 1,304.5 trillion won, an increase of 129.4 trillion won from the previous year’s final account (1,175 trillion won), and 2.6 trillion won higher than the budget forecast (1,301.9 trillion won). The Ministry of Finance and Economy stated that domestic demand will weaken in 2025 due to the martial law crisis, coupled with drastic changes in the trade environment caused by the United States, and internal and external shocks, the government has strengthened the role of fiscal policy through the preparation of two supplementary budgets.

The Bank of France emptied its gold reserves in the United States and made a profit of 12.8 billion euros in Europe

According to French media reports, between July 2025 and January 2026, the Bank of France sold the last batch of 129 tons of gold stored in the United States and purchased the same amount of gold in Europe, earning 12.8 billion euros in capital gains. Currently, all of France's gold reserves have been shipped back to Paris for storage. Since 2005, the Bank of France has been gradually replacing old non-standard gold bars with bars that meet modern international standards. This time, the bank did not choose to refine and transport the gold in the United States. Instead, it sold it directly and made huge profits through 26 transactions while the gold price was high. France's central bank governor Villeroy insists the decision to move French gold out of the United States is not politically motivated. He said this is mainly because the European market trades higher standards of gold and it is more convenient to buy new gold than to refine existing stocks.

Domestic News

The explosion of AI www.xmtraders.computing power has brought www.xmtraders.companies on the liquid cooling track to the forefrontEntering the liquid cooling track

Since the beginning of this year, the demand for AI www.xmtraders.computing power has shown explosive growth, opening up incremental space for related industry chains. The higher the www.xmtraders.computing power requirements, the higher the cooling capacity requirements for a large number of chips in the data center. This makes the liquid cooling industry a "hot track" that www.xmtraders.companies are currently www.xmtraders.competing for layout. The reporter visited upstream and downstream www.xmtraders.companies in the liquid cooling industry chain and found that due to the surge in demand, many manufacturers are operating at full capacity and are constantly expanding production capacity. The person in charge of a coolant production www.xmtraders.company told reporters that immersed coolant technology has been monopolized by foreign countries for a long time. At present, their self-developed high-performance coolant for big data centers has been mass-produced. The price is only one-quarter of imported products, and it is favored by downstream customers. At present, my country's liquid cooling industry chain is autonomous and controllable, with cost advantages and faster delivery. At the same time, my country has the world's largest Internet application market and rich AI implementation scenarios, allowing my country's liquid cooling technology research and development to accumulate rich experience in ultra-large-scale cluster deployment.

my country's sodium-ion battery has made a major breakthrough

Hu Yongsheng's team from the Institute of Physics, Chinese Academy of Sciences published a major result in "Nature Energy": the team successfully developed a polymerizable non-combustible electrolyte (PNE) with self-protection function, and was the first in the world to www.xmtraders.completely block thermal runaway in an ampere-hour sodium-ion battery. The team broke the traditional understanding that "flame-retardant electrolyte equals safety", jumped out of a single line of defense, and built a three-in-one intelligent safety protection system of "thermal stability-interface stability-physical isolation". When the battery temperature rises abnormally above 150°C, PNE will automatically solidify from a liquid to a dense barrier, just like building a "smart firewall" inside the battery, www.xmtraders.completely cutting off the propagation path of thermal runaway. It is worth mentioning that this breakthrough does not sacrifice the high performance of the battery. The battery has excellent wide-temperature performance (-40°C to 60°C) and high-voltage stability (>4.3V), and the materials are all mature industrial products, giving it extremely high industrial www.xmtraders.competitiveness. This achievement refreshes people's understanding of battery safety and lays a solid foundation for the www.xmtraders.commercialization of sodium-ion batteries in electric vehicles, heavy-duty trucks, large-scale energy storage and other fields.

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