Spot Gold opened at $4341.22 per troy ounce in the ASIan session today (Monday). Gold price dipped briefly to a low of $4313.28 per troy ounce in the early ASIan trading hours, then rebounded amid volatility to a peak of $4361.68 per troy ounce. As of press time, gold was consolidating around the $4346 level, posting a 0.12% gain on the day.

The US Dollar Index staged a short-term intraday rebound and climbed to a high of 99.73, before pulling back in the afternoon to settle at 99.63, up 0.03%. The yield on the 2-year US Treasury note rose by 0.7 bASIs points to close at 4.211%, while the 10-year US Treasury yield edged down 0.1 bASIs points and finished at 4.657%.

The two major international crude oil benchmarks gapped up at the open and traded within a narrow range afterward. WTI Crude Oil is currently quoted at $78.72 per barrel, up 2.20%; Brent Crude Oil stands at $84.28 per barrel, rising 2.56%; US Natural Gas CFD is priced at $2.757 per MMBtu, with a 3.143% increase.

In today’s stock market, the three major A-share indices fluctuated throughout the trading session. By the closing bell, total turnover on the Shanghai and Shenzhen stock exchanges exceeded 2.5 trillion yuan. The Shanghai Composite Index added 26.56 points, or 0.67%, to close at 3966.59; the Shenzhen Component Index edged up 5.95 points, or 0.04%, to 14316.96; the ChiNext Index fell 25.9 points, or 0.73%, and settled at 3537.21.

Hong Kong’s Hang Seng Index opened higher and kept climbing. At the close, total market turnover of the Hang Seng Index reached HK$240.28 billion. The Hang Seng Index rose 269.46 points, or 1.05%, to 25937.49; the Hang Seng Tech Index gained 61.17 points, or 1.26%, closing at 4919.46; the Hang Seng China Enterprises Index climbed 90.26 points, or 1.06%, to 8621.84; the Hang Seng Red Chip Index increased 21.84 points, or 0.53%, to 4142.85.

European major stock indices opened in the afternoon as follows: UK FTSE 100 opened 0.03% lower, France CAC 40 opened down 0.03%, Euro Stoxx 50 opened 0.09% higher, Spain IBEX 35 opened 0.15% higher, Italy FTSE MIB opened flat (0.00% change), and Germany DAX 30 opened 0.05% higher.

In the afternoon, Gold (T+D) of the Shanghai Gold Exchange closed 1.93% higher at 944.33 yuan per gram, while Silver (T+D) closed up 2.67% at 15640.0 yuan per kilogram.

On the latest developments regarding US-Iran tensions, a spokesperson for Iran’s Ministry of Foreign Affairs stated that Tehran has not held any negotiations with Washington for the time being and is exchanging information with the US via intermediaries. At present, the entire diplomatic apparatus is focused on advancing negotiations with Oman to finalize the definitive shipping route. The reopening of the Strait of Hormuz requires the US to lift its blockade and provide compensation. The Strait of Hormuz agreement reached with Oman includes fees for maritime services.

US Democratic Senator Murphy claimed that the United States has in effect "already lost the war against Iran". The US is in urgent need of ending the conflict and restoring navigation through the Strait of Hormuz; every additional day of hostilities weakens the US and strengthens Iran. The US must extricate itself from the conflict as soon as possible. Analysts believe neither the US nor Iran is willing to take the first step, and Washington’s strategy of economic pressure is unlikely to yield desired results.

Israeli Prime Minister Benjamin Netanyahu explicitly rejected the second phase of the Gaza peace plan pushed forward by Donald Trump, publicly breaking ranks with the US President on this rare occASIon. The Israel Defense Forces (IDF) will not carry out any troop withdrawal until Hamas disarms.

Key economic data to watch closely this week include US July unadjusted CPI, US July monthly retail sales, preliminary reading of US 1-year inflation expectations for August, UniveRSIty of Michigan US Consumer Sentiment Index for August, and other releases.

From the daily chart of gold price: Gold surged roughly $100 last Friday, pulling back after peaking near the 100-day moving average. Gold has been consolidating in volatile territory above the $4300 threshold today. In terms of daily technical indicators, the 5-day and 10-day moving averages maintain a bullish alignment, the positive histogram of the MACD indicator is gradually expanding, and the RSI indicator hovers around the 66 level.

On the 1-hour gold chart, the opening of the BOLLinger Bands keeps narrowing, with gold price oscillating between the middle and upper bands of the channel. The short-term EMA5 and EMA10 exponential moving averages stay in a bullish configuration, the positive MACD histogram remains sustained, and the RSI indicator has retreated to trade around the 60 level. Evening short-term trading suggestions: Monitor gold’s movement within the $4300–$4370 range. A breakout to the upside will target $4385–$4395 or the vicinity of $4405; downside targets are $4285–$4275 or around $4260.

Warm reminder: No major economic data is scheduled for release tonight.

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