Analysis of today's market

During the first trading day after the New Year holiday, gold prices extended intraday gains to nearly $2,650 during the North American session, driven by heightened market risk aversion as investors focused on the inauguration of President-elect Donald Trump on January 20th.

Trump's anticipated policies, such as raising import tariffs and lowering taxes, have benefited gold. Raising import tariffs could lead to a potential global trade war, while lowering taxes would increase inflationary pressures in the United States. Given that investors use precious metals as a hedge against inflation, gold tends to perform better during economic uncertainty and higher price pressures.

Gold opened at around 2656 and rose to around 2660 at the highest and around 2656 at the lowest before press time.Pay attention to the resistance of 2670-2680-2690 If it fails to break through, it will test 2630-2620-2610