U.S. President Trump on the 23rd eased market concerns over escalating military conflicts in the Middle East with his remarks about the Iran situation, leading to a sharp drop in international oil prices and a significant rebound in gold prices.

As of the market close that day, the price of light crude oil futures for May delivery on the New York Mercantile Exchange fell by $10.10, settling at $88.13 per barrel, a decline of 10.28%; the price of Brent crude oil futures for May delivery fell by $12.25, settling at $99.94 per barrel, a decline of 10.92%.

On that day, gold futures for April on the New York Mercantile Exchange rebounded significantly after hitting a 4-month low overnight. Spot gold prices briefly reached $4462 per ounce.

On the morning of the 23rd, U.S. President Trump stated on social media that the U.S. and Iran had very good and productive dialogues over the past two days to thoroughly resolve hostilities between the two countries in the Middle East. He has instructed the U.S. Department of Defense to postpone airstrikes targeting Iranian power plants and energy infrastructure by 5 days. However, Iran immediately denied any contact with the U.S.