Market Review
According to ETO Markets monitoring, on April 18 (Friday), spot gold extended its rally, rising about 1.5% to close at USD 4,861.32 per ounce. Weekly gains exceeded 2%. US gold futures also rose 1.5%, settling at USD 4,879.60.
On April 20 (Monday) during early Asian trading, spot gold opened sharply lower and fell quickly. Prices dropped by more than USD 60 at one point, briefly touching the USD 4,760 area. Short-term volatility increased significantly.
Global Headlines
US Iran Talks To Resume
Trump said the US delegation will travel to Islamabad for a new round of talks. He described the proposal as fair and reasonable, but warned that further strikes on Iranian infrastructure could follow if Tehran rejects it.US Boards Iranian Merchant Vessel
US forces intercepted an Iranian merchant ship in the Gulf of Oman, opened fire, and then carried out a boarding operation. Iran called the move a violation of the ceasefire and said it would respond.Iran Tightens Strait Blockade
Iranian forces stopped two oil tankers from passing through the Strait of Hormuz, forcing them to turn back. The move suggests maritime restrictions remain in place.Iran Maintains Full War Readiness
Iran’s parliament speaker said talks are still ongoing, but the armed forces remain on full alert. He warned that conflict could restart at any moment.
ETO Markets Analyst View (Spot Gold)
Spot gold has moved into a short-term correction phase, with 4,805 as the key pivot. If prices remain below this level, downside pressure may continue. Support is seen at 4,725 and 4,700.
If gold regains 4,805, upside momentum may recover. Resistance levels are seen at 4,835 and 4,865. Overall, the market has shifted from a strong rally into a high-level pullback.
RSI has fallen below 30, pointing to oversold conditions in the short term. Volatility has picked up sharply. With geopolitical tensions escalating quickly, risk sentiment remains unstable. Monitor developments closely.
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