In early trading in Asia, the international gold market slightly weakened, with spot gold prices fluctuating downward, down 0.2% intraday, quoted at $4,759.29 per ounce, as risk aversion and inflation hedging sentiments heat up.

The ongoing Middle East geopolitical conflict has driven oil prices higher, intensifying market concerns about rising inflation. Amid high inflation expectations, worries about tightening monetary policy have resurfaced, and gold is experiencing short-term volatility influenced by both sentiment and capital flows, showing a consolidation pattern.

Geopolitical risks support gold prices, but policy expectation changes triggered by inflation are the main reason for early trading pressure on gold. Both bulls and bears are engaged in fierce battles, and the short-term gold trend will closely follow inflation data, oil price fluctuations, and geopolitical developments.