Today's market analysis

During the North American session on Monday, U.S. Treasury yields capped gains in gold, with the precious metal trading within a range of 2,630to2,659. However, the escalation of conflicts in the Middle East prevented further declines in gold prices. Currently, gold is trading at $2,645, down 0.30%.

Market sentiment has deteriorated sharply due to the war in the Middle East. As Israel continues its ground operations in Lebanon and Hamas fires rockets at Tel Aviv, the crossfire has been extended. Other groups, including the Houthis, have been involved in attacks on ships in the Red Sea. With the conflict expanding, hopes for a ceasefire are slim.

Gold opened at around 2642 and rose to around 2649 at the highest and around 2638 at the lowest before press time.Pay attention to the resistance of 2660-2670-2680. If it fails to break through, it will test2630-2620-2610