Today in the Asian market, the international gold price dropped by $14 from the $2703 level and was supported at the $2689 level. On the one hand, due to the first phase ceasefire agreement reached between Israel and Gaza last weekend, the market gave some face and prices fell. The ceasefire agreement between Palestine and Israel is divided into three stages, and currently only the first stage of the hostage exchange agreement has been reached. It's quite difficult to achieve the second and third stages because the United States has once again issued a statement that as long as the hostages are exchanged, Israel will do whatever they want and I won't intervene wherever they want to fight. So, the so-called agreement actually has almost no substantive significance at present. So it's still too early to talk about the decline of risk aversion towards Palestine and Israel.

On the technical side, the gold price has been fluctuating for more than a month, not just for a day or two. Smashing the market is not a reversal, but rather a chance for bulls to get on board and win. Today is clearly Martin Luther King Jr. Day off, so there shouldn't be too much volatility today, but the market has gone back and forth in search of the moon. This indicates that the market is still full of concerns about Trump's inauguration today.

As mentioned last week, whether the triple top formed by the technical daily chart can be broken is crucial. Breaking through the resistance level of $2725, gold prices will open up upward space and head towards 2800 or even higher.

Before Trump is officially sworn in, it is expected that the market will maintain a wide range of disorderly fluctuations. Try to choose to fall back more rather than chase after more, as chasing after more is likely to result in losses.

The Trump 2.0 era is filled with various uncertain trade policies, fiscal policies, economic policies, and his unpredictable and spontaneous tweets. All of them will bring a boost to gold.

Short selling requires courage, while long selling is in line with the current trend. The 2700 line is still a reasonable location to start buying more in batches.