On Monday, spot gold opened with a gap down, with the Asian market opening 15 dollars lower directly, opening at $4696.98 per ounce, showing a clear weak start in the short term.

Affected by weekend market sentiment and capital repositioning, the risk aversion premium has temporarily declined, combined with the slight strengthening of the US dollar index, causing gold prices to come under immediate pressure and decline at the open, with a noticeable gap. Overall, after the early low open, the market entered a weak oscillation and consolidation phase, with short-term bearish sentiment being released predominantly, and the bulls have not yet formed an effective counterattack. Future focus should be on the gap fill effort and the defense of key support levels below.