ETO Markets Global Pulse: Gold Rises 0.6%, Rebounds to $4,588

Market Review

According to ETO Markets monitoring, on May 18 (Monday), spot gold rebounded from intraday lows and closed 0.6% higher near USD 4,566 per ounce. Gains were capped by rising oil prices and a sharp move higher in US Treasury yields.

On May 19 (Tuesday) during early Asian trading, spot gold extended its recovery. At 07:20, prices rose about 0.5% to around USD 4,588 per ounce, keeping the short-term rebound structure intact.

Global Headlines

Trump Delays Planned Iran Strike

Trump said he had instructed Defense Secretary Hegseth, Joint Chiefs Chairman Caine, and the US military not to launch the planned strike on Iran on May 19. The move followed requests from leaders of Qatar, Saudi Arabia, and the UAE. He said serious negotiations are underway, with any deal expected to include a core condition that Iran must not possess nuclear weapons.

Warsh Swearing-In Ceremony Set Friday

White House officials said Trump will host Kevin Warsh‘s swearing-in ceremony as the new FED Chair at the White House this Friday. Warsh was confirmed by the Senate last week for a four-year term. Powell’s term as Chair ended last weekend, though he plans to remain on the FED Board as a governor until January 2028.

Iran Reiterates New Front Option

A social media account linked to Irans Supreme Leader Mojtaba Khamenei reposted his first statement after taking office. The statement said that if the “state of war” continues, Iran may open new fronts in areas where its enemies lack experience and remain highly vulnerable.

Pezeshkian Says Dialogue Not Surrender

Iranian President Pezeshkian said dialogue does not mean surrender. He said Iran is engaging in talks while defending national dignity, authority, and the rights of its people. He added that the government will use reason and all available strength to protect Irans interests.

Goldman Says AI Productivity Matters

Goldman Sachs pushed back its expected timing for rate cuts this year, but said the key market driver is not the short-term rate path. Goldman partner Mark Wilson said AI-driven productivity gains and the reset in long-term earnings expectations remain the main macro variables for equities.

ETO Markets Analyst View (Spot Gold)

Spot gold is showing a short-term rebound structure, with 4,535 acting as the key support level. If prices stay above 4,535, recovery momentum may continue, with upside levels to watch at 4,605 and 4,640.

If gold falls below 4,535, the structure may weaken again. In that case, support is seen at 4,500 and 4,480. Overall, gold remains in a recovery phase after rebounding from recent lows.

RSI is trending higher, suggesting short-term momentum has improved and price still has room for further recovery. With markets reacting to US-Iran negotiations, energy price moves, and US Treasury yield volatility, price action may remain uneven.

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