ETO Markets Global Pulse: Gold Rebounds to $4,760 Amid Uncertainty

Market Review

According to ETO Markets monitoring, on April 9 (Thursday), spot gold edged higher, supported by a softer USD. Markets continued to assess the stability of the US-Iran ceasefire while awaiting US March CPI data.

On April 10 (Friday) during early Asian trading, spot gold is moving in a narrow range around USD 4,760 per ounce, maintaining a high-level consolidation pattern.

Global Headlines

Iran Signals New Strait Control Phase

Irans IRGC Navy said control of the Strait of Hormuz has entered a “new phase,” without disclosing details. Leadership reaffirmed pursuit of war compensation.

Iran Declares Full Readiness Posture

Irans parliament speaker said the country is fully prepared for all scenarios. Talks may proceed if commitments are met, otherwise actions could resume.

Israel Plans Lebanon Direct Talks

Israel is preparing for direct talks with Lebanon. The first round is expected next week in Washington, with both sides engaging through diplomatic channels.

Trump Urges Israel To De-Escalate

Trump asked Israel to scale back strikes on Lebanon to support ongoing negotiations with Iran, despite Israels stated intention to continue operations.

FED Nominee Hearing Delayed

The US Senate postponed the hearing for the FED chair nominee due to incomplete documentation. Preparations are still underway.

ETO Markets Analyst View (Spot Gold)

Spot gold remains in a high-level consolidation structure, with 4,730 as key support. Holding above this level keeps the bullish bias intact, with upside targets at 4,780 and 4,800.

If prices fall below 4,730, a short-term correction may develop. Downside levels to watch are 4,700 and 4,670. Overall, the structure remains range-bound with a slight bullish tilt.

RSI suggests that while further correction cannot be ruled out, the downside may be limited. Price action is leaning toward consolidation. With policy expectations and geopolitical uncertainty interacting, direction remains unclear. Monitor closely.

Disclaimer

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