Trading Analysis for XAUUSD – 23/03/2026

Gold is entering the week of March 24 in deeply damaged technical territory, with spot XAU/USD trading at $4,390 after tagging an intraday low of $4,099 earlier in the session.

Middle East Energy Shock Enters a Critical Week as Hormuz Disruption Reprices Oil, Inflation, and Risk Assets | Geopolitical Analysis – March 23, 2026

As markets enter the new week, the Middle East conflict remains the defining geopolitical driver for oil, inflation expectations, and broader risk sentiment. With the Strait of Hormuz still at the center of the disruption, traders are being forced to price not only a sustained energy shock, but also the possibility that higher oil and gas costs keep central banks cautious for longer. This week’s geopolitical outlook is therefore less about whether a risk premium exists, and more about whether that premium becomes a wider macro shift across commodities, rates, equities, and FX.