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```htmlAccording to Golden Ten Data on April 1, Industrial and Commercial Bank of China’s Singapore branch, with the support of the head office and Shanghai Clearing House, successfully priced and issued 500 million RMB Free Trade Zone offshore bonds, which have been listed on the Singapore Exchange. This is the first Free Trade Zone offshore bond issued by Industrial and Commercial Bank of China, and also the first of its kind listed on the Singapore Exchange. Moving forward, Industrial and Commercial Bank of China’s Singapore branch will continue to act as an RMB clearing bank, enhance integrated service capabilities, participate deeply in the development of the Singapore offshore RMB center, and continuously inject new momentum into the internationalization of the RMB.```

Glonghui April 1st｜Silvercorp Metals (SVM.US) continued to rise 2.51% in pre-market trading, reaching $11.01; the stock opened higher and trended upwards in the previous US session, ultimately closing up 7.08%. Benefiting from the surge in precious metal prices, Silvercorp Metals has risen about 180% cumulatively in 2025. On January 26th this year, it hit a new all-time high intraday at $14, rising about 68% year-to-date and soaring approximately 3.69 times since the beginning of 2025. In the short term, impacted by the macro environment, the stock briefly retreated to the 120-day moving average before surging again. As of yesterday’s close, it had rebounded over 13%.On the news front, there are signs of easing geopolitical tensions in the Middle East. US President Trump stated that the United States might end military operations against Iran in two to three weeks. Iranian President Pezeshkian stated that Iran has a “necessary willingness to end the war,” but needs guarantees to “prevent further aggression.” This news triggered a short-term rally in gold and silver, with spot gold breaking through $4,710/oz, reaching this level for the first time in nearly two weeks; spot silver also returned above $75/oz.According to one exchange, the recent drop in gold has been “clearly an overcorrection.” Supported by continued buying by central banks and expectations that the Federal Reserve will cut rates two more times this year, the medium-term outlook for gold remains solid, with gold prices likely to climb to $5,400/oz by the end of the year. Jeff Kilburg, CEO of KKM Financial, believes that if the United States can reach an agreement with Iran soon and ensure the reopening of the Strait of Hormuz, silver could rebound to around $90 to $100 per ounce.

```htmlGolden Ten Data reported on April 1 that Laura Cooper from Nuveen stated in her report that global markets may face prolonged pressure due to supply chain disruptions caused by war in the Middle East. This assessment was made in the context of Trump’s statement that the US will withdraw from Iran within two to three weeks. Cooper pointed out that energy supply shocks are spreading to other commodity sectors such as metals and fertilizers. “Although ceasefire negotiations may boost short-term market sentiment and ease oil prices, a more prudent strategy is to prepare for the persistence of the shock rather than its resolution.”```