ETO Markets Global Pulse: Gold Rebounds to $4,585 Amid Strait Rules

Market Review

According to ETO Markets monitoring, on May 5 (Tuesday), spot gold closed at USD 4,557.27 per ounce, rising 0.74% on the day after previously touching USD 4,501 on Monday, the lowest level since March 31.

On May 6 (Wednesday) during early Asian trading, spot gold climbed to around USD 4,585 per ounce. The rebound extended into Asian hours, with prices potentially retesting the USD 4,600 level.

Global Headlines

Trump Pauses “Freedom Plan”

Trump said on Truth Social that the “Freedom Plan” would be temporarily suspended while the Strait of Hormuz blockade remains in place. He described the move as part of efforts to evaluate whether a final agreement can still be reached and signed.

Rubio Pushes Maximum Pressure Strategy

US Secretary of State Rubio said US forces are continuing defensive escort operations in the Strait of Hormuz to restore navigation freedom. He stressed the US would not fire first but would respond decisively if attacked, while Washington continues its “maximum pressure” campaign on Iran.

FED Hold Odds Reach 96%

According to CME FEDWatch data, markets are pricing a 96% probability that the FED keeps rates unchanged in June. By December, the probability of a 25bp hike stands at 36.9%, while the chance of at least one cut is 13.1%.

Iran Launches New Strait Rules

Iran officially activated a new maritime management framework for the Strait of Hormuz. Ships planning to pass through the Strait must now receive official guidance and obtain transit permits before entry.

SEC Eyes Semiannual Reporting Shift

The SEC proposed allowing listed companies to replace quarterly reporting with semiannual reports. If approved, disclosure frequency could fall from four times a year to two.

ETO Markets Analyst View (Spot Gold)

Spot gold remains in a short-term recovery structure, with 4,545 acting as the key support level. If prices hold above 4,545, upside momentum may continue, with resistance levels at 4,605 and 4,630.

If gold falls back below 4,545, the market may enter another corrective phase. Support is seen at 4,525 and 4,500. Overall, gold is still in a rebound and repair stage after the previous selloff.

RSI remains bullish, suggesting room for further upside extension. With geopolitical developments and liquidity expectations continuing to interact, short-term volatility is likely to remain elevated. Monitor market developments closely.

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