Market Review
According to ETO Markets monitoring, on March 31 (Tuesday), spot gold surged sharply, jumping about 3.5% intraday to a high of USD 4,687 per ounce. Prices later consolidated at elevated levels, closing near USD 4,667. US gold futures followed, rising 2.7% to settle at USD 4,678.60.
On April 1 (Wednesday) during early Asian trading, spot gold remains firm around USD 4,674 per ounce. Prices are holding above USD 4,650, with short-term momentum still strong.
Global Headlines
Trump Signals War Near End
Trump said the Iran conflict could end soon and expects the Strait of Hormuz to reopen. He stressed the US will not stay long-term and aims to prevent Iran from obtaining nuclear weapons.Iran Open To Conditional Ceasefire
Iran signaled willingness to end the conflict if its conditions are met. The key demand is guarantees against future aggression. Negotiation room exists, but uncertainty remains high.Iran Advances Strait Fee Plan
Iran approved a plan to charge vessels passing through the Strait of Hormuz, with payments in local currency. Restrictions on certain countries may reshape global energy transport costs.Trump Considers Cost Redistribution
The US is exploring shifting part of military costs to Arab states. This reflects a broader strategy to redistribute geopolitical burden and may complicate regional dynamics.IMF Warns Global Growth Risks
The IMF warned the conflict could trigger uneven global shocks. Rising energy, food, and fertilizer prices may pressure growth, especially in lower-income economies.
ETO Markets Analyst View (Spot Gold)
Spot gold has entered a renewed upward structure, with 4,610 acting as key support. Holding above this level suggests continued bullish momentum, with upside targets at 4,735 and 4,800. If prices fall below 4,610, short-term momentum may weaken. Downside levels to watch are 4,570 and 4,528. The market has shifted from consolidation to trend acceleration.
RSI continues to rise, signaling strengthening momentum. Bulls remain in control, and price action favors trend continuation. Geopolitical risks and safe-haven demand are reinforcing each other. Volatility is rising, but directional bias is strengthening. Monitor developments closely.
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