Gold: Technical rebound faces yield headwinds – OCBC
By FXStreet Insights Team
Updated: 30 Mar 2026
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OCBC strategists Sim Moh Siong and Christopher Wong describe Gold’s latest bounce as largely technical after a near 20% drawdown since the Iran conflict began.
OCBC strategists Sim Moh Siong and Christopher Wong describe Gold’s latest bounce as largely technical after a near 20% drawdown since the Iran conflict began. They see scope for a near‑term rebound but stress that a more durable recovery likely requires prices to reclaim key resistance levels, while higher real yields and reduced Fed cut expectations keep the macro backdrop challenging.
Rebound capped by real yields
"Gold rebounded last Friday, with the bounce appearing largely technical after prices had fallen close to 20% at one point since the onset of the Iran conflict."
"While this suggests scope for a near-term rebound, it remains uncertain whether the move can be sustained."
"Key resistance levels are seen at 4,624 (100DMA), 4,670 (38.2% fibo retracement) and 4,850 (50% fibo)."
"A more durable recovery would likely require prices to reclaim and hold above these levels."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
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