Gold Prices Rise

 Gold Prices Rise for Third Straight Day on April 1, 2026 Amid Middle East Tensions Easing

Gold prices extended their gains on Wednesday morning (April 1, 2026), marking a third consecutive day of increases as geopolitical tensions showed signs of easing.

According to Bloomberg, as of 06:45 WIB, gold futures for June 2026 delivery on the Commodity Exchange were trading at $4,716.40 per troy ounce, up 0.81% from the previous session’s level of $4,678.60 per troy ounce.

The recent rally in gold prices comes after U.S. President Donald Trump signaled a potential end to the ongoing conflict with Iran within the next two to three weeks. The statement boosted market sentiment, reducing uncertainty surrounding global geopolitical risks.

Trump indicated that the United States had achieved most of its military objectives and may leave further developments in the Strait of Hormuz to other nations. This strategic shift has been closely watched by investors, particularly in the commodities and energy markets.

Meanwhile, Iranian state media reported that President Masoud Pezeshkian expressed readiness to end the conflict, provided certain conditions are met. This development has further contributed to easing tensions in the region.

Despite the current rebound, gold bullion recorded a sharp decline of nearly 12% in March. The prolonged conflict in the Middle East, now entering its fifth week, has disrupted global markets, threatened energy supplies, and raised concerns over rising inflation alongside slowing economic growth.

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Gold Price Pullback

 

Gold Price Trims Gains as Hawkish Central Banks Offset Weaker USD

Gold prices trimmed part of their intraday gains after struggling to sustain momentum above the $4,600 level, retreating from a one-and-a-half-week high reached during the Asian session. Reports that Donald Trump may end the military campaign against Iran—despite the Strait of Hormuz remaining partially closed—triggered a corrective pullback in crude oil prices.

This development eased inflation concerns and kept US Treasury yields subdued, prompting some profit-taking in the US Dollar (USD) and providing limited support to gold prices.

Technical Analysis: Short-Term Bearish Bias Emerges

From a technical perspective, gold shows a cautiously bearish short-term bias as prices trade below the 38.2% Fibonacci retracement of the decline from the monthly swing high.

Additionally, gold remains below the 100-day Simple Moving Average (SMA), signaling that while the broader uptrend is still intact, near-term pressure is building. Meanwhile, the 200-day SMA continues to trend higher, reinforcing the long-term bullish structure despite recent pullbacks.

The Relative Strength Index (RSI) has rebounded from oversold territory to around 41, indicating weakening bearish momentum but limited upside strength. At the same time, the MACD remains in negative territory, confirming fading bullish momentum.

• Immediate resistance: $4,592 (38.2% Fibonacci level)
• Next resistance: $4,637 (100-day SMA)
• A daily close above this level could open the door toward $4,747 (50% retracement)

On the downside:

• Initial support: $4,470 (recent low)
• Key support: $4,401 (23.6% retracement)
• A break below this zone could expose $4,200–$4,150, with the 200-day SMA near $4,129 acting as a major support level

As long as gold holds above the 23.6% retracement and 200-day SMA, the broader bullish outlook remains intact. However, a breakdown below these levels would strengthen the current bearish bias.

Geopolitical Risks and Fed Policy Cap Gold Upside

Iran’s reluctance to engage in direct negotiations with the US highlights fragile diplomatic progress. At the same time, continued US military deployment in the region adds uncertainty and dampens hopes for rapid de-escalation in the Middle East.

This backdrop could support crude oil prices and keep inflation risks elevated, reinforcing expectations of higher global interest rates.

Hawkish signals from major central banks, particularly the Federal Reserve (Fed), continue to limit upside potential for non-yielding assets like gold.

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Gold Gains Today

Gold Gains After Trump Signals Progress With Iran, Still Heads for Weekly Loss

Gold prices edged higher in Asian trading on Friday, supported by a slightly weaker U.S. dollar and easing geopolitical tensions after Donald Trump signaled progress in negotiations with Iran.

Spot gold rose 1.2% to $4,429.32 per ounce as of 22:43 ET (02:43 GMT), while U.S. gold futures climbed 1.1% to $4,457.60 per ounce. Despite the rebound, gold remains on track to post a weekly decline of around 1.3%, following a sharp 3% drop in the previous session.

Trump-Iran Developments Weigh on Safe-Haven Demand

On Thursday, Trump announced a temporary 10-day halt to strikes on Iran’s energy infrastructure at Tehran’s request, adding that negotiations are “going very well.”

This pause in hostilities has reduced immediate safe-haven demand. However, it has also put mild pressure on the U.S. dollar, offering support to gold prices, which typically move inversely to the greenback.

The US Dollar Index slipped 0.1% after posting gains over the past three sessions.

Volatility Persists Amid Middle East Tensions

Gold markets have experienced significant volatility in recent weeks, as ongoing Middle East tensions disrupt traditional safe-haven dynamics. Prices surged to record highs earlier this year before pulling back sharply over the past month.

Earlier this month, a spike in oil prices—triggered by supply disruptions linked to the Iran conflict—raised concerns about global inflation. Higher energy costs could keep inflation elevated and reinforce expectations that central banks will maintain higher interest rates for longer.

Outlook: Uncertainty Continues to Support Gold

While easing tensions between Washington and Tehran have capped gains, lingering uncertainty surrounding the conflict and its broader economic impact continues to provide underlying support for gold. 

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Gold Bearish Signal

Gold Recovery Stalls Amid Middle East Escalation Risks and Bearish Signals

Gold prices remained defensive around the $4,500 level on Thursday morning after facing strong rejection near $4,600 in the previous session. The US Dollar continued to hold firm as fears of escalating tensions in the Middle East intensified, overshadowing fading hopes for a ceasefire.

From a technical perspective, gold appears vulnerable as the Relative Strength Index (RSI) remains below the neutral 50 level, while a confirmed Bear Cross continues to reinforce downside pressure.

In the short term, the bias has turned slightly bearish after spot prices slipped below the 21-day Simple Moving Average (SMA) near $4,940 and the 50-day SMA around $4,965. This shift signals growing seller control, although prices still trade above the rising 100-day and 200-day SMAs, clustered between $4,620 and $4,110. This structure suggests a correction within a broader uptrend, rather than a full trend reversal.

Momentum indicators further support the bearish outlook. The RSI currently sits at 33, hovering near oversold territory, indicating sustained selling pressure. Additionally, the 21-day SMA crossing below the 50-day SMA on Wednesday confirms the Bear Cross, strengthening bearish sentiment.

On the upside, initial resistance is seen at the 21-day SMA near $4,940, followed by the 50-day SMA at $4,965. A sustained breakout above this zone could ease immediate bearish pressure and open the path toward $5,100, where the latest swing high forms a stronger barrier.

On the downside, immediate support lies around $4,450, ahead of the rising 100-day SMA near $4,625, a key level maintaining the broader bullish structure. A decisive break below this level could expose the $4,300 zone, with further downside potentially testing the 200-day SMA near $4,115, where buying interest may re-emerge.

Geopolitical uncertainty remains a key driver. Confusion surrounding potential ceasefire negotiations and the risk of further escalation in the Middle East have revived risk-off sentiment across global markets. This dynamic is supporting demand for the US Dollar as a safe-haven asset, at the expense of gold.

Donald Trump continues to assert that peace negotiations with Iran are ongoing, while Iranian officials deny such talks. Meanwhile, Abbas Araghchi stated that the US proposal has been reviewed by senior authorities, but Iran has no intention to negotiate at this stage.

Instead, Iran has reportedly introduced a five-point plan, including a ceasefire, guarantees against future conflict, compensation, and control over the strategically vital Strait of Hormuz, according to The Guardian.

However, markets interpret the ongoing “peace narrative” as a potential delay tactic by Donald Trump to prepare for a possible ground operation on Kharg Island—a critical oil export hub handling nearly 90% of Iran’s shipments.

The United States has already increased military deployments in the region, further heightening tensions. This ongoing risk environment continues to strengthen the US Dollar—the world’s primary reserve currency—while limiting gold’s recovery potential.

Looking ahead, gold traders will closely monitor geopolitical developments and quarter-end positioning flows, both of which could significantly influence short-term price action.

Overall, technical indicators and geopolitical risks suggest that downside pressure on gold remains intact in the near term, especially after the rejection at the $4,600 resistance level.

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EMAS Targets Global Investors

 

EMAS Targets Global Investors with Hong Kong Stock Exchange Listing Plan

PT Merdeka Gold Resources Tbk (EMAS) has officially submitted a share listing application (Form A1) to the The Stock Exchange of Hong Kong Limited on March 20, 2026, marking a strategic move to expand its presence in global capital markets.

The application follows Hong Kong’s listing regulations, with UBS Securities Hong Kong Limited and CITIC Securities (Hong Kong) Limited appointed as joint sponsors for the process.

The company believes that listing on HKEX will enhance access to international investors, improve stock liquidity, and provide greater financial flexibility to support future business expansion. This move is also expected to strengthen EMAS’s global market position, broaden its shareholder base, and elevate corporate governance and reporting standards in line with international best practices.

Currently, EMAS is developing and operating the Pani Gold Mine located in Pohuwato Regency, Gorontalo. The project is targeted to become one of Asia’s two largest primary gold mines by 2030.

The Pani Gold Mine reached its first gold pour milestone in February 2026 and recorded its initial gold sales in March 2026 to PT Aneka Tambang Tbk under a two-year domestic gold sales agreement. This achievement marks the beginning of EMAS’s commercial production phase.

President Director Boyke Poerbaya Abidin stated that the HKEX listing application represents a continuation of the company’s growth strategy following its IPO on the Indonesia Stock Exchange in September 2025 and the commencement of production at Pani earlier this year.

As part of the listing process, a redacted draft application proof has been published on the HKEX website for informational purposes. The document outlines the company’s business overview, operations, financial performance, and risk factors, but it remains a preliminary version and not a final offering document.

The company emphasized that the document does not constitute an offer to sell or a solicitation to buy securities. The listing remains subject to regulatory approval and market conditions, with no guarantee of completion at this stage.

Management advises shareholders and prospective investors to carefully assess potential risks and exercise caution when making investment decisions while awaiting further developments in accordance with applicable regulations.

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Gold Pullback Risk

 

Gold Faces Pullback Risk Amid Oversold Conditions and Gulf War Tensions

Gold prices extended their downward trend on Tuesday morning, slipping below the $4,400 level as geopolitical tensions in the Middle East persist. The ongoing conflict continues despite efforts by Donald Trump to extend an ultimatum for Iran to reopen the Strait of Hormuz within 48 hours.

In the short term, gold has shifted into a bearish bias after breaking below key technical indicators, including the 21-day Simple Moving Average (SMA) near $5,000 and the 50-day SMA around $4,970. This breakdown confirms a loss of previous support levels and signals a transition from a bullish trend into a corrective phase. Prices are now approaching the 100-day SMA near $4,610. Meanwhile, the 14-day Relative Strength Index (RSI) stands at 26, indicating oversold conditions, though the consistent decline from above 50 highlights strong selling pressure rather than a completed downtrend.

Initial resistance is seen near $4,650—formerly a support level—while the 21-day SMA around $5,000 reinforces a broader supply zone during potential rebounds. A daily close above the 50-day SMA at $4,970 is needed to ease immediate downside pressure and reopen the path toward the $5,100 level. On the downside, immediate support lies at the psychological level of $4,300, followed by the rising 200-day SMA near $4,100, which represents a stronger medium-term floor. A decisive break below $4,300 could extend the bearish phase toward the 200-day average and deepen the correction within the long-term uptrend.

Market sentiment remains highly sensitive to geopolitical developments. Trump cited “productive talks” with Iran as a reason for a potential five-day delay in military action. However, Iran’s Foreign Ministry denied any negotiations with the United States over the past 24 days of conflict.

This conflicting narrative has fueled volatility across financial markets, particularly in gold, silver, and WTI crude oil. Gold recently rebounded from a four-month low of $4,099 after Trump’s delay offered temporary relief to buyers. Prior to that, the metal had plunged nearly 9% amid escalating tensions, including threats targeting civilian and energy infrastructure linked to the Strait of Hormuz dispute.

Despite the temporary relief, markets appear to interpret Trump’s softened stance as a recurring “TACO” (Trump Always Chickens Out) moment, prompting a return of risk-off sentiment and renewed bearish pressure on gold. At the same time, oil prices are recovering, with expectations of prolonged elevated energy costs.

This outlook has revived inflation concerns and increased speculation that the Federal Reserve may consider raising interest rates later this year. Rising rate expectations typically weigh on non-yielding assets like gold, adding further downside pressure.

Additional bearish momentum comes from reports of renewed Israeli strikes in Tehran. The Israel Defense Forces (IDF) confirmed ongoing operations in line with government directives, further intensifying geopolitical uncertainty.

Looking ahead, gold sellers may face intermittent pullbacks due to deeply oversold conditions, with RSI levels remaining well below 30. However, price action will likely continue to be driven primarily by developments in the Middle East conflict, making geopolitical headlines the key catalyst for gold market direction.

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