Market Review
According to ETO Markets monitoring, on March 26 (Thursday) gold prices declined sharply. Spot gold fell 2.8% to USD 4,377.85/oz, while April U.S. gold futures dropped 3.9% to USD 4,376.30/oz. Although Trump extended the timeline for potential strikes on Iranian energy facilities, a stronger USD and repricing of policy expectations dominated, pushing gold lower.
During Asian trading on March 27 (Friday), spot gold moved narrowly, hovering near USD 4,398/oz.
Global Headlines
U.S. Drafts “Decisive Strike” Plans on Iran
The Pentagon is reportedly evaluating multiple military options, including strikes on oil hubs, maritime blockades, and potential ground operations. The White House stated these remain hypothetical discussions with no final decision.Trump Extends Strike Deadline by 10 Days
Trump announced an extension of the deadline for targeting Iranian energy facilities to April 6, citing ongoing negotiations and “positive progress.” Markets continue to reassess ceasefire expectations amid elevated uncertainty.U.S. May Redirect Weapons to Middle East
Reports suggest the U.S. is considering reallocating air defense systems initially designated for Ukraine to the Middle East. NATO indicated that support for Ukraine remains ongoing.Markets Begin Pricing Hike Risk
Amid geopolitical escalation, markets are now hedging for potential rate hikes. Options and swaps markets show a sharp upward shift in rate expectations, reversing prior easing bets.Private Credit Redemptions Strain Liquidity
Private credit funds are facing large-scale redemption requests totaling USD 130 billion. Redemption restrictions have locked up portions of capital, increasing liquidity stress across markets.
ETO Markets Analyst View (Spot Gold)
From a technical perspective, USD 4,470 stands as the key near-term resistance. As long as prices remain below this level, gold maintains a bearish bias, with downside targets at USD 4,350 and USD 4,300. A break above USD 4,470 could open recovery toward USD 4,535 and USD 4,600.
RSI indicates weakening momentum, with downside pressure still dominant unless resistance is cleared. With both policy expectations and geopolitical risks driving volatility, price swings remain elevated. Investors should closely track developments and manage risk exposure carefully.
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