ETO Markets Global Pulse: Gold Slides Toward 4500 as Seven-Day Losing Streak Extends

Market Review

According to ETO Markets monitoring, on March 19 (Thursday) gold prices dropped sharply. Spot gold fell 3.5% to close at USD 4,650/oz, with intraday losses exceeding 6% and a low of USD 4,503.18/oz, marking the lowest level since early February. April U.S. gold futures declined 5.9% to USD 4,605.70/oz. Gold has now recorded seven consecutive sessions of decline.

During Asian trading on March 20 (Friday), spot gold edged lower in a narrow range and was trading near USD 4,640/oz.

Global Headlines

Rate-Cut Expectations Collapse, Precious Metals Sell Off

Following signals from the Bank of England on inflation control, U.S. Treasury yields moved higher. Market expectations for Federal Reserve rate cuts this year have been largely priced out, with some positioning now hedging against potential hikes. Gold extended its losses for a seventh straight session, while silver saw intraday declines of up to 12%.

U.S. Treasury Signals Potential Release of Iranian Oil

The U.S. Treasury Secretary indicated that measures may include releasing strategic reserves and allowing part of Irans crude oil to enter the market to ease price pressures. Around 130 million barrels of Iranian oil remain restricted at sea, and policy changes could boost short-term supply.

Iran Claims Strike on U.S. F-35 Fighter Jet

Irans Revolutionary Guard stated that its air defense systems hit a U.S. F-35 fighter jet, causing severe damage and possibly leading to a crash. Iran emphasized that its air defense capabilities have significantly improved during the recent conflict.

Israel to Pause Strikes on Irans Energy Facilities

The Israeli Prime Minister announced a pause in airstrikes on Iranian energy infrastructure, noting that previous operations were conducted independently. Meanwhile, the United States approved partial delivery and sale of Russian crude, signaling adjustments on the supply side.

ETO Markets Analyst View (Spot Gold)

From a technical perspective, USD 4,570 serves as the key near-term pivot. If prices hold above this level, a technical rebound could develop with targets at USD 4,710 and USD 4,810. A break below USD 4,570 would open downside toward USD 4,500 and USD 4,455.

RSI remains below the neutral 50 level but shows signs of turning higher, suggesting potential short-term recovery momentum. Gold continues to be repriced between tightening rate expectations and shifting risk sentiment. Investors should carefully assess trading rhythm and risk exposure.

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