ETO Markets Global Pulse: Gold Crashes 8.7%, Breaks 4100 as Dollar Surges

Market Review

According to ETO Markets monitoring, on March 23 (Monday) gold prices saw extreme volatility. Spot gold plunged over 8.7% intraday, hitting a low near USD 4,099/oz and approaching the 200-day moving average. The sharp drop came as escalating geopolitical tensions coincided with a strong U.S. dollar, distorting the typical safe-haven response.

During Asian trading on March 24 (Tuesday), spot gold rebounded. It briefly dipped 0.7% to around USD 4,360/oz before recovering quickly. Prices are now up about 0.6%, trading near USD 4,430/oz.

Global Headlines

U.S.–Iran Talks Outlook Remains Unclear

U.S. officials indicated that Iran may be willing to reach an agreement in the near term, with some areas of consensus already formed. However, the White House declined to confirm whether formal talks will take place this week, highlighting ongoing uncertainty.

U.S. Sets Tentative Timeline for Iran Conflict

Israeli officials said the U.S. has set April 9 as a target date to end military operations against Iran and may hold another round of talks in Pakistan this week. Meanwhile, the U.S. has withdrawn its previous ultimatum on striking Iranian energy facilities.

Fed Officials Split on Rate-Cut Path

Fed Governor Milan stated that the oil shock is not sufficient to alter expectations of four rate cuts this year. In contrast, Goolsbee warned that inflation remains elevated and geopolitical risks complicate the policy outlook, emphasizing caution.

Hormuz Shipping Shows Signs of Easing

Market reports suggest that a tanker carrying around 2 million barrels of Iraqi crude has successfully passed through the Strait of Hormuz. If confirmed, this would mark one of the first shipments since tensions escalated, signaling a marginal easing in shipping risks.

ETO Markets Analyst View (Spot Gold)

From a technical perspective, USD 4,325 is the key near-term pivot. Holding above this level could support a rebound toward USD 4,510 and USD 4,605. A break below USD 4,325 would reopen downside risk toward USD 4,240 and potentially USD 4,100.

RSI has turned higher, indicating recovering short-term momentum. However, with a strong dollar and ongoing geopolitical uncertainty, volatility remains elevated and price swings may stay sharp. Investors should closely monitor market developments and manage risk exposure carefully.

Disclaimer

The information contained herein is for general reference only and does not constitute investment advice, a solicitation, or an offer to buy or sell any financial products.

ETO Markets does not guarantee the accuracy, completeness, or timeliness of the information and shall not be liable for any losses incurred from reliance on such content.