Market Review
According to ETO Markets monitoring, on April 21 (Tuesday), spot gold extended its decline, falling about 2.2% to close at USD 4,712.04 per ounce, the lowest level in more than a week. US gold futures also dropped 2.3%, settling at USD 4,719.60.
On April 22 (Wednesday) during early Asian trading, spot gold edged higher to around USD 4,727 per ounce. Price action shows a modest rebound from recent lows, but the broader tone remains cautious.
Global Headlines
Trump Extends Ceasefire Keeps Blockade
Trump said the ceasefire would be extended while Iran works on a unified negotiating proposal. He also ordered US forces to keep the Strait blockade in place, with all other military units remaining on full alert until talks are completed.Warsh Backs FED Independence Reforms
At his hearing, Kevin Warsh said he would uphold FED independence and would not let political pressure shape monetary policy. He also called for changes to the inflation framework and communication system, arguing that current policy tools have added to structural imbalances in the economy.Retail Sales Show Consumer Resilience
US retail sales rose 1.7% in March, marking the strongest monthly increase in more than a year. Energy-related spending was the main driver, suggesting that overall consumer demand still has some resilience.Iran Rejects Second Round Talks
Iran said it would not attend the second round of talks that had been planned in Islamabad. Tehran argued that the current process lacks real substance and delivered its decision through Pakistani channels.SpaceX Strengthens Musk Control Structure
SpaceX disclosed in its IPO filing that it plans to preserve Musk’s control through a dual-class share structure. The filing also showed incentive arrangements tied to ambitious valuation targets and a larger ownership position for Musk.
ETO Markets Analyst View (Spot Gold)
Spot gold remains in a weak consolidation structure, with 4,753 as the key resistance level. If prices stay below 4,753, downside pressure may continue, with support seen at 4,692 and 4,667.
If gold moves back above 4,753, a rebound may extend further. In that case, the next upside levels to watch are 4,795 and 4,830. Overall, the market still looks range-bound with a weaker short-term bias.
RSI suggests that gold is still facing pressure from the 4,753 resistance zone, and momentum recovery remains uncertain. With a stronger USD and stalled geopolitical talks both weighing on sentiment, direction is still unclear. Monitor developments closely.
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