Market Review
According to ETO Markets monitoring, on April 15 (Wednesday), spot gold pulled back slightly after hitting recent highs, falling about 0.9% to close near USD 4,798.89 per ounce.
On April 16 (Thursday) during early Asian trading, spot gold rebounded modestly to around USD 4,812 per ounce, maintaining a high-level consolidation pattern.
Global Headlines
US-Iran Talks May Resume Soon
The White House said the US and Iran may restart face-to-face talks. Discussions are ongoing, with Islamabad again seen as a potential venue.Iran Uncertain On Ceasefire Extension
Iran said it cannot confirm whether the ceasefire will be extended. Officials noted inconsistent US positions and stressed ongoing dialogue via Pakistan.US Senate Blocks War Powers Bill
The US Senate again rejected a bill to limit presidential authority over military action in Iran. This marks the fourth failed attempt.FED Signals Higher Rates For Longer
FED officials said rates may stay elevated for longer amid inflation and labor uncertainty. Markets show a 98.4% probability of no change in April.Trump Threatens To Replace POWELL
Trump warned he may remove FED Chair POWELL once a successor is confirmed. Kevin Warsh has been nominated, with hearings expected next week.
ETO Markets Analyst View (Spot Gold)
Spot gold remains in a strong consolidation structure, with 4,785 as the key pivot. Holding above this level keeps the bullish trend intact, with upside targets at 4,850 and 4,870.
If prices fall below 4,785, a short-term correction may develop. Downside levels to watch are 4,755 and 4,735. The market is in a rebalancing phase after recent highs.
RSI remains bullish, with momentum still intact. Further upside cannot be ruled out. With policy expectations and geopolitical tensions interacting, volatility is rising. Monitor closely.
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