On February 23, gold opened higher as anticipated, continuing its upward trend from last week's close around 5103. Today's opening at 5106 was followed by a direct rise, reaching a high of 5171 so far. Yesterday, it was noted that following Friday's strong closing pattern, Monday's early session was likely to open higher and extend gains, with at least an initial upward surge to release bullish momentum. It was emphasized that entering long positions at the 7 AM opening would be a straightforward strategy, easily capturing tens of dollars in gains.

Last week’s weekly chart closed with a hammer candlestick pattern featuring an extremely long lower shadow, indicating continued bullish demand this week. The daily chart shows three consecutive bullish candles, reflecting a clear upward structure. Supported by geopolitical tensions driving safe-haven demand and concerns over tariff policies, funds are flowing into safe-haven assets, keeping gold's bullish momentum strong. Gold and silver are poised for a potential bottoming and rally, as consistently emphasized recently.

From a technical perspective, the bottoming process appears largely complete, with further gains likely driven by geopolitical developments. Key factors to watch include U.S.-Iran tensions and updates on tariff policies. After breaking firmly above 5000 dollars and stabilizing above the 5100 mark, the 5100 level has become a critical short-term support. Any pullback holding above this level suggests continued upward momentum, while a break below would indicate short-term weakness. The trading strategy is straightforward: on dips, consider entering long positions around the 5100/5120 area, targeting a move toward 5200.