Market Review
According to ETO Markets monitoring, on April 2 (Thursday), spot gold declined sharply by about 2.2%, closing at USD 4,651.35 per ounce. US gold futures fell 2.8%, settling at USD 4,679.70. On April 3 (Friday) during early Asian trading, gold and crude oil markets are closed for GOOD FRIDAY.
Global Headlines
Trump Signals Larger Iran Strikes
Trump said the US will launch larger-scale strikes on Iran within two to three weeks. He noted military operations are near completion, while negotiations are ongoing.
FED Rate Hike Expectations Rise
FED rate expectations shifted again. The probability of holding rates in April rose to 99.5%. By December, the chance of a 25bps hike increased to 14.7%, reflecting renewed policy repricing.
US Expands Strikes On Infrastructure
The US carried out strikes on key Iranian infrastructure, including a major bridge near Tehran used for missile transport and logistics support.
Trump Proposes Drug Tariffs Plan
Trump is considering 100% tariffs on pharmaceutical firms that fail to reach agreements with the White House. Some companies may receive exemptions.
Standard Chartered Sees Higher Gold
Standard Chartered noted gold may face short-term pressure from liquidity factors but expects prices to reach new highs over time due to strong safe-haven demand.
ETO Markets Analyst View (Spot Gold)
Spot gold is facing a key resistance at 4,695. If prices remain below this level, the short-term structure stays weak. Downside risks may extend toward 4,580 and further to 4,540. If gold breaks back above 4,695, bullish momentum could return. Upside targets are 4,750 and 4,800. The market is now in a repricing phase after a pullback from elevated levels.
RSI suggests that unless 4,695 is reclaimed, the risk of a break below 4,580 remains high. Momentum is weakening in the short term. With policy expectations shifting and geopolitical risks rising, volatility is elevated and direction remains uncertain. Monitor closely.
Disclaimer
The information contained herein is for general reference only and does not constitute investment advice, a solicitation, or an offer to buy or sell any financial products. ETO Markets does not guarantee the accuracy, completeness, or timeliness of the information and shall not be liable for any losses incurred from reliance on such content.