Market trading sluggish; USD at two-month low, Goldman Sachs raises gold price forecast.

On Monday, as investors lowered their bets on US tariffs, the US dollar index hovered near a two month low and ultimately closed down 0.04% at 106.75. The US bond market was closed due to the impact of US President's Day.

Gold prices rebounded to around $2900 per ounce on Monday, closing at $2898.96 per ounce, an increase of about 0.56%, supported by concerns about a weak US dollar and a trade war triggered by US President Trump's threat to impose equivalent tariffs. However, Monday is the US President's Day holiday, and overall market trading is relatively light. Goldman Sachs raised its gold price forecast for the end of 2025 to $3100 per ounce on Monday.

Due to Russia's discussion on a comprehensive ban on gasoline exports on February 20th, international oil prices have risen. WTI crude oil ultimately closed up 1.19% at $71.33 per barrel; Brent crude oil closed up 1.01% at $75.26 per barrel.