ETO Markets Global Pulse: Gold Drops 1.88% as Market Forces Clash

Market Review

According to ETO Markets monitoring, on March 12 (Thursday) gold prices declined sharply. Spot gold closed at USD 5,079.25/oz, down about 1.88% on the day, while U.S. gold futures also moved lower, indicating that the market remains in a phase of intense bullish and bearish confrontation.

During Asian trading on March 13 (Friday), spot gold fluctuated within a narrow range and was trading near USD 5,096/oz.

Global Headlines

Rate-Cut Expectations Continue to Shift Back

CME FedWatch data shows markets assign a 99.1% probability that the Federal Reserve will keep interest rates unchanged in March, with expectations for rate cuts continuing to move further out.

U.S. Building Tariff Refund System

The U.S. government is establishing a system to refund approximately USD 166 billion in illegal tariffs and related interest to businesses. The system construction is currently estimated to be 40%–80% complete.

Iran Allows Partial Passage Through Strait of Hormuz

Iran‘s deputy foreign minister stated that some countries’ vessels are allowed to pass through the Strait of Hormuz, while nations involved in military operations against Iran will not receive safe passage guarantees.

Iran Responds to Trumps War Remarks

The secretary of Irans Supreme National Security Council said that once war begins, it cannot be ended through a few social media posts, adding that Iran will not easily abandon its right to respond.

Chinas Central Bank Reaffirms Easing Policy

The Peoples Bank of China reiterated that it will maintain a moderately accommodative monetary policy and strengthen counter-cyclical and cross-cycle adjustments to support economic stability.

ETO Markets Analyst View (Spot Gold)

From a technical perspective, USD 5,135 stands as the key near-term resistance. As long as prices remain below this level, downside risks persist with targets at USD 5,055 and USD 5,015. A break above USD 5,135 could open room for a rebound toward USD 5,155 and USD 5,185.

Gold continues to be influenced by multiple factors including U.S. dollar movements, interest rate expectations, and geopolitical developments. With volatility still elevated, investors should carefully assess trading rhythm and risk exposure.

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