On April 14th, the Shanghai Futures Exchange (referred to as "SHFE") issued a notice on adjusting the limit up and limit down range and trading margin ratio of gold and other futures related contracts, adjusting the limit up and limit down range and trading margin ratio of gold AU2607 and silver AG2704 contracts. The notice specifies that from the time of the contract's listing, the limit up and limit down range of the gold AU2607 contract will be adjusted to 17%, the margin ratio for holding position trading will be 18%, and the margin ratio for general position trading will be 19%; The limit up and limit down range of the silver AG2704 contract is set at 20%, with a margin ratio of 21% for holding positions and 22% for general position trading. In case of the situation stipulated in Article 13 of the Risk Control Management Measures of the Shanghai Futures Exchange, adjustments shall be made based on the above-mentioned limit up and limit down range and trading margin ratio. Recently, the global macro environment has been complex and volatile, and the geopolitical conflicts in the Middle East are still unclear. Coupled with factors such as fluctuating inflation expectations, precious metal prices have shown a fluctuating trend. However, a research report by Huayuan Securities pointed out that in the long run, the upward logic of gold has not weakened, but has further strengthened under the changes in the global macro and geopolitical landscape. The constraints of the US fiscal deficit, debt expansion, rising trade protectionism, and intensified power struggles are weakening the stability of the US dollar's credit anchor, driving global reserve assets to diversify and redistribute. Gold is gradually evolving into an important asset to hedge against sovereign credit risks, geopolitical fragmentation risks, and global currency system reconstruction risks. Data shows that on April 14th, the Shanghai gold lunch price was 1050.49 yuan/gram, an increase of 2.25 yuan/gram from the earlier price; The Shanghai silver noon trading price was 18907 yuan/kg, an increase of 91 yuan/kg from the earlier trading price. From the market perspective, as of the close of the day, the stock prices of Western Mining rose by 3.84%, Luoyang Molybdenum Industry rose by 3.71%, and Zijin Mining rose by 3.39%. (New Society)