Analysis of today's market

After suffering heavy losses last week, gold gathered momentum for recovery and traded above $2,600 on Monday. In the absence of data releases, escalating geopolitical tensions helped gold maintain its position.

Investors still hope that the expansionary policies touted by U.S. President-elect Donald Trump will drive inflation and limit the Fed's room for further interest rate cuts. This supports the rise in U.S. Treasury yields and favors a bullish dollar, which in turn hinders traders from placing bullish bets around gold prices. Therefore, before further recovering from last week's two-month low, caution prevails as investors await strong follow-up buying.

Gold opened at around 2611 and rose to around 2617 at the highest and around 2610 at the lowest before press time.Pay attention to the resistance of 2620-2630-2640 If it fails to break through, it will test 2580-2570-2560