On Thursday, April 2nd, the Shanghai Gold Exchange's gold T+D contract fell 1.09% to 1022.07 yuan/gram in early evening trading; the Shanghai Gold Exchange's silver T+D contract fell 1.6% to 17570.0 yuan/kilogram in early evening trading.

Domestic News 1. The General Office of the State Council issued a notice on the "Implementation Plan for Establishing a Comprehensive Evaluation System for Enterprise Credit Status." 2. The Cyberspace Administration of China, the Ministry of Industry and Information Technology, and the Ministry of Public Security launched a series of special actions for personal information protection in 2026. 3. The People's Bank of China added 12 new digital RMB business operating institutions. 4. The People's Bank of China's net injection of 50 billion yuan into the open market in March. 5. The General Office of the Ministry of Industry and Information Technology issued a notice on launching a special action to empower the development of SMEs with inclusive computing power. 6. In response to issues such as the illegal marketing of "Yousiyi" health products, the State Council Food Safety Office, the State Administration for Market Regulation, and the General Administration of Customs held talks with three platform companies: Douyin, Taotian, and Xiaohongshu. 7. Zhai Jun, China's Special Envoy for Middle East Issues, spoke by phone with Brouwerhart, Switzerland's Special Envoy for Middle East Affairs, and the two sides exchanged views on the current tense situation in the Middle East. 8. Wang Yi spoke by phone with Saudi Foreign Minister Faisal, German Foreign Minister Wadfoor, and EU High Representative for Foreign Affairs and Security Policy Karas. International News 1. Turkey's gold reserves plummeted by nearly 120 tons in two weeks. 2. European diesel futures broke through the $200 per barrel mark. 3. Iran's Isfahan Mubarak steel plant completely shut down. 4. Tesla's Q1 deliveries fell short of expectations, putting pressure on traditional businesses. 5. The Philippines stated that Iran pledged to guarantee passage for Philippine vessels through the Strait of Hormuz. 6. Iranian crude oil prices traded at a premium to Brent crude for the first time since 2022. 7. Sources: OPEC+ may consider further increasing production quotas at its Sunday meeting. 8. Iranian Deputy Foreign Minister: Iran will impose passage fees on vessels transiting the Strait of Hormuz. 9. Reports indicate that Iran and Oman are drafting a passage agreement for the Strait of Hormuz, causing significant market volatility. 10. Federal Reserve Chairman Logan: Supports the Fed maintaining interest rates unchanged at the recent FOMC meeting. 11. Iranian Revolutionary Guard: Will expand the scope of its strikes and accelerate the expulsion of the US presence in the region. 12. Initial jobless claims in the U.S. fell last week, with the labor market remaining characterized by low hiring and low layoffs. 13. According to Iranian media Fars News: The commander of the Fathin unit of the Iranian Islamic Revolutionary Guard Corps has been killed. 14. A U.S. Department of Energy official stated that the U.S. has not yet held any consultations regarding releasing more crude oil from its strategic petroleum reserves.

WTI SURGES 10% INTRADAY TO $109.04/BARREL; BRENT UP 8.8%