Market Review
According to ETO Markets monitoring, on April 1 (Wednesday), spot gold extended gains for a fourth consecutive session, rising about 2.5% to close near USD 4,784.22 per ounce. US gold futures climbed 2.9%, settling at USD 4,813.10.
On April 2 (Thursday) during early Asian trading, spot gold continues to push higher, trading around USD 4,800 per ounce. This marks a fifth straight day of gains, with momentum remaining strong.
Global Headlines
Trump Says War Near Completion
Trump stated the conflict with Iran is close to completion but warned that strikes may still escalate in the near term. He said key military objectives have largely been achieved.
US Intelligence Sees No Talks
US intelligence agencies assess that Iran is not ready for meaningful negotiations. While communication channels remain open, trust is low and talks lack a solid basis.
US Plans Uranium Seizure Operation
The US military submitted a plan to secure over 460 kg of enriched uranium in Iran. The operation would involve airlift logistics and carries significant risk.
Iran President Addresses US Public
Iran’s president said the country holds no hostility toward others and framed its actions as self-defense. He warned that continued confrontation would raise costs.
Iran Signals Full Military Readiness
Iran stated it is fully prepared to respond to any form of attack, including ground operations. Officials confirmed no direct negotiations with the US.
US Data Shows Economic Resilience
US retail sales rose 0.6% in February, while ADP employment increased by 62,000 in March. Data points to a short-term recovery in consumption and labor markets.
ETO Markets Analyst View (Spot Gold)
Spot gold is entering a high-level consolidation phase, with 4,768 as the key pivot. A break below this level may trigger a pullback toward 4,630 and 4,600. If prices hold above 4,768, the bullish structure remains intact. Upside levels to watch are 4,800 and 4,840. The trend remains strong, but near-term consolidation is likely.
RSI is below the neutral 50 level, suggesting momentum is easing. A short-term correction cannot be ruled out. With USD weakness and geopolitical risks reinforcing each other, volatility is increasing. Monitor market developments 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.