[CICC: Gold Investment Demand and Prices May Have Room for Upward Adjustment] Deep Tide TechFlow reports that on April 4, a research report by China International Capital Corporation (CICC) suggested that the U.S.-Iran conflict has led to a sharp rise in oil prices, with inflation risks taking precedence. Market expectations for the Federal Reserve's rate cut trajectory have shifted, creating selling pressure on gold ETFs, which saw significant inflows last year. Meanwhile, liquidity shocks have also fueled short-term corrections through the futures and options markets. Currently, the geopolitical situation in the Middle East may be at a critical juncture, with oil prices facing a directional decision. The focus of gold market pricing may shift toward assessing the impact of supply shocks on stagflation. The already priced-in rate hike expectations may require adjustments. Looking ahead, CICC believes that whether it is an oil price correction following a de-escalation of geopolitical tensions, a return to accommodative monetary policy, or intensified supply shocks exacerbating recession risks and highlighting gold's safe-haven value, there may be room for upward adjustment in both gold investment demand and prices. (Jin10)