ETO Markets Global Pulse: Gold Holds $4,650 Amid Range Trade

Market Review

According to ETO Markets monitoring, on April 6 (Monday), spot gold traded within a USD 4,600–4,700 range and closed near USD 4,650 per ounce, down about 0.55%.

On April 7 (Tuesday) during early Asian trading, gold remains in a narrow range around USD 4,655 per ounce. The market continues to consolidate without a clear direction.

Global Headlines

Iran Proposes Ten-Point Peace Plan

Iran submitted a ten-point proposal via Pakistan, calling for a halt to military actions and full sanctions relief. The plan includes reopening the Strait of Hormuz with transit fees of around USD 2 million per vessel.

Trump Claims Rapid Strike Capability

Trump stated the US could disable key Iranian infrastructure within four hours if needed. He highlighted the ability to escalate strikes quickly and shift battlefield dynamics.

Trump Suggests Strait Transit Fees

Trump proposed charging vessels passing through the Strait of Hormuz, stating that “winners take the spoils.” He also mentioned potential control over Irans oil resources post-conflict.

France Repatriates Gold Reserves

The French central bank sold 129 tonnes of gold held in the US and repurchased equivalent amounts in Europe, generating about EUR 12.8 billion. All reserves are now held in Paris.

ETO Markets Analyst View (Spot Gold)

Spot gold remains in a range-bound structure, with 4,690 acting as key resistance. If prices stay below this level, the short-term bias is weaker, with downside targets at 4,620 and 4,590.

If gold breaks above 4,690, bullish momentum may return. Upside levels to watch are 4,720 and 4,745. The market is still in a consolidation phase, awaiting direction.

RSI remains below the neutral 50 level, indicating limited upward momentum. With geopolitical tensions and policy expectations interacting, direction remains unclear. Price action is likely to stay range-bound.

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.