ETO Markets Global Pulse: Gold Slides 3% Ahead of CPI

Market Review

According to ETO Markets monitoring, on Feb 12 (Thursday), spot gold fell sharply by 3.2%, breaking below the USD 5,000/oz threshold. Prices dropped to an intraday low of USD 4,878/oz, the weakest level since Feb 6. Spot silver declined even more steeply, tumbling 10% and fully erasing the previous sessions gains.

During Asian trading on Feb 13 (Friday), spot gold staged a modest rebound, hovering near USD 4,940/oz, reflecting short-term technical stabilization.

Global Headlines

CPI Data in Focus as Policy Path Reassessed

Gold briefly stabilized amid broader cross-asset selling, with markets turning attention to U.S. inflation data due later Friday. Strong January employment data had already dampened mid-year rate-cut expectations. Some strategists noted that part of the recent pullback may be linked to systematic CTA-driven liquidation.

Trump Warns Iran as Talks Enter Critical Phase

President Trump stated the U.S. “must” reach an agreement with Iran, warning that failure would lead to a “very serious” second phase. He emphasized that any deal must be fair and advantageous, suggesting developments could accelerate in the coming weeks.

Netanyahu Voices Doubts Over Iran Deal

Israeli Prime Minister Benjamin Netanyahu expressed skepticism about the effectiveness of any potential agreement with Iran, insisting that any framework must address issues deemed critical to Israels security.

Danish Pension Fund Reviews U.S. Exposure

ATP, Denmarks second-largest pension fund, announced a comprehensive review of political risks in the United States and signaled it may reduce exposure to U.S. private markets.

U.S. Existing Home Sales See Sharpest Drop in Four Years

U.S. existing home sales fell 8.4% month-on-month in January, marking the largest decline since April 2022. While severe weather weighed on transactions, affordability metrics showed marginal improvement, leaving the housing recovery path uncertain.

ETO Markets Analyst View (Spot Gold)

Technically, USD 5,007 has become a key pivot. Below this level, downside pressure intensifies, with support seen at USD 4,845 and USD 4,800. Failure to reclaim USD 5,007 increases the probability of further testing these lower zones. A sustained move back above USD 5,007 would open scope for recovery toward USD 5,040 and USD 5,080.

Overall, amid shifting liquidity expectations, persistent geopolitical uncertainty, and heightened risk-asset volatility, gold remains in a high-level repricing phase. Near-term swings are amplified, and investors are advised to carefully manage trading pace and risk exposure.

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