Gold Market Update – On March 3rd, the benchmark 10-year U.S. Treasury yield settled at 3.951%, while the more policy-sensitive 2-year yield closed at 3.385%. Following military strikes by the U.S. and Israel against Iran, investor concerns about a prolonged Middle East conflict intensified. Spot gold opened with a significant gap-up but faced profit-taking pressure, ultimately closing 0.84% higher at $5,322.12 per ounce. Spot silver also opened higher but trended lower throughout the session, finishing down 4.78% at $89.36 per ounce. Attacks by Israel and the U.S. on Iran prompted retaliatory actions, leading to shutdowns at multiple oil and gas facilities in the region. Disruptions to shipping through the critical Strait of Hormuz caused a sharp rise in energy prices. WTI crude oil climbed 5.41% to $71.07 per barrel, while Brent crude settled 6.02% higher at $77.49 per barrel.

Latest Gold Price Movement – The gold market opened higher yesterday at $5,316.9 per ounce, driven by safe-haven demand stemming from U.S.-Iran tensions. The price rallied directly to a daily high of $5,419.9 per ounce before entering a period of consolidation. During the U.S. session, profit-taking emerged, pushing the price down to a daily low of $5,260 per ounce. A late-session rebound followed, with gold finally settling at $5,322.4 per ounce. The daily chart formed a shooting star candlestick pattern with a longer upper shadow. Despite this pattern, the overall trend for gold remains bullish. In summary, after a gap-up opening and subsequent consolidation, gold formed a bearish doji-like candlestick but continues to trade near elevated levels, retaining upward momentum for today. The trading strategy suggests prioritizing long positions on pullbacks, with short positions as a secondary tactic. Resistance is observed between $5,400 and $5,450, while support levels are seen at $5,319 and $5,270.

Latest Crude Oil Price Movement – U.S. crude oil opened strongly higher yesterday at $75.05 per barrel, influenced by geopolitical risk premiums. After a minor push to $75.16 per barrel, significant profit-taking triggered a sharp decline, with prices falling to a daily low of $69.3 per barrel. A strong rebound followed, confining the price within a wide range, and the session finally closed at $71.41 per barrel. The daily candle formed a large bearish candle with a very long lower shadow. This price action suggests crude oil is undergoing a test of its upward momentum. In summary, after volatile trading, oil closed higher, but remains within a range awaiting a decisive breakout. The trading approach for today favors establishing long positions on dips. Resistance is anticipated near $73.4 to $75.0, with support levels at $70.2, $69.3, and $67.8.

Latest Nasdaq Index Movement – The Nasdaq index opened lower yesterday at 24,674.42 points, then rallied to fill the gap, reaching a high of 24,861.51 points. A strong sell-off followed, driving the index down to a daily low of 24,435.61 points. Subsequently, a powerful rebound emerged, pushing the index to a daily peak of 25,059.81 points before it consolidated and finally settled at 24,954.53 points. The daily chart printed a large bullish candle with a very long lower wick. This formation indicates the Nasdaq continues to trade within a consolidation range. In summary, the index is oscillating within a range, having rebounded from the lower boundary of its recent trading band. Traders should watch for signs of stabilization today. The recommended strategy is to focus on long positions during pullbacks, with short positions as a secondary consideration. Resistance is viewed between 25,100 and 25,350 points, while support lies near 24,763 and 24,450 points.