ETO Markets Global Pulse: Gold Holds Above $4,500 After Rally

Market Review

According to ETO Markets monitoring, on March 30 (Monday), spot gold extended gains for a second session, rising about 0.36% to close near USD 4,510 per ounce. Prices briefly touched USD 4,580 intraday. US gold futures settled 0.7% higher at USD 4,557.50.

On March 31 (Tuesday) during early Asian trading, spot gold moved sideways around USD 4,502 per ounce. The bullish bias from the previous session remains, but momentum has started to ease.

Global Headlines

Rate Cut Expectations Repriced Lower

FED rate path expectations shifted sharply. The probability of holding rates in April stands at 97.4%. By December, the chance of a 25bps hike dropped to 4%, while rate cut odds rose to 14.1%. Markets are actively repricing policy outlook.

Iran Warns Against Kharg Entry

Iran warned the US not to deploy troops to Kharg Island, its main oil export hub handling about 90% of exports. The warning lifted concerns over potential supply disruptions.

Iran Plans Strait Transit Fees

Iran approved transit fees for vessels passing through the Strait of Hormuz. Charges could reach USD 2 million per tanker. The move may reshape global energy transport costs.

White House Sees Weeks Of Action

The White House signaled military operations could last 4–6 weeks. Around 20 tankers have been cleared to pass. Trump aims to reach a deal before April 6. Markets are pricing both conflict and negotiation paths.

Trump Eyes Cost Sharing Strategy

Trump is considering shifting part of military costs to Arab states. The move reflects a potential redistribution of geopolitical burden, adding complexity to regional dynamics.

ETO Markets Analyst View (Spot Gold)

Spot gold is approaching a key pivot at 4,555. If prices stay below this level, short-term structure may weaken. Downside targets are 4,490 and 4,465, reflecting correction after recent gains.

If gold breaks back above 4,555, bullish continuation remains possible. Upside levels to watch are 4,580 and 4,600. The market is still in a high-level consolidation phase, awaiting direction.

RSI shows mixed signals, with unclear momentum direction. Short-term two-way volatility may increase. With policy repricing and geopolitical risks interacting, drivers remain fragmented. Price action is likely to stay volatile within a range.

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