Spot gold jumped as much as 3% on April 8, trading at $4,808.53 per ounce, as China’s central bank purchases and geopolitical tensions fueled the rally. Domestic jewelry prices in China rose sharply, with Lao Feng Xiang reporting 1,470 RMB ($214) per gram, Chow Sang Sang at 1,471 RMB ($214), and Laomiao Gold at 1,485 RMB ($216). Zhengxin Futures Research Institute noted that central bank purchases rose significantly in March, partly due to price corrections boosting demand. Iran’s Supreme National Security Council secretariat announced US-Iran negotiations will begin April 10 for a two-week period. Analysts say the medium-to-long-term gold outlook remains bullish.

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