The trading volume during the lunar New Year is light, and the price of gold, after falling for two days, has stabilized.

Due to the closure of markets in several Asian countries for the Lunar New Year, gold has remained relatively stable after two consecutive days of decline. In early Asian trading, the price of gold hovered around $4880 per ounce, falling over 3% in the previous two trading days due to a stronger US dollar. Since the historic drop at the beginning of the month, market trends have been extremely volatile. On Tuesday, a key US dollar index briefly rose by 0.4%, before narrowing its gains. At the end of January, a strong rally pushed gold to a historic high above $5595 per ounce, but the market quickly cooled off and fell significantly to around $4400 per ounce in just two trading days. Gold has since rebounded somewhat, but has not yet established a clear support level. Institutions such as BNP Paribas, Deutsche Bank, and Goldman Sachs predict that gold will resume its upward trend, citing factors such as escalating geopolitical tensions, reduced holdings of sovereign bonds and currencies by investors, and concerns about the independence of the Federal Reserve. In the short term, investors will focus on speeches by Federal Reserve officials for clues on US monetary policy. Expectations of interest rate cuts will benefit interest-free precious metals - last Friday, mild inflation data strengthened expectations of rate cuts, causing gold prices to briefly rise. Spot gold remained steady at $4880.18 per ounce; silver fell slightly by 1% to $72.83 per ounce; platinum rose by 0.9%, and palladium increased by 0.5%.