Gold’s morning rise from 4381 saw a continued climb, reaching a peak around 4440 before shifting into high-level consolidation. It is currently pulling back to around 4425. The overall upward structure has not yet been broken, so the outlook remains bullish. However, it’s not recommended to chase at high levels. Waiting for the pullback and then going long is more prudent.
On the news front, the market is still trading around U.S. employment data and expectations for the Federal Reserve’s next policy. Tonight also has additional employment-related data to watch. Before the data, there may be more choppy “washouts,” and short-term volatility could further intensify.
In terms of trading: on pullbacks, prefer going long in the 4400—4420 zone. On the upside, watch the 4440—4460 area closely. If price can regain and hold above 4440, there may be further upside room opened. If there is a clear breakdown below 4400, the long momentum will slow down—then it’s better to stand by and wait for consolidation.
In one sentence overall: the trend is bullish—buy on pullbacks, don’t chase, and 4400 is the most important today’s key bull-bear line.
$XAU
On the news front, the market is still trading around U.S. employment data and expectations for the Federal Reserve’s next policy. Tonight also has additional employment-related data to watch. Before the data, there may be more choppy “washouts,” and short-term volatility could further intensify.
In terms of trading: on pullbacks, prefer going long in the 4400—4420 zone. On the upside, watch the 4440—4460 area closely. If price can regain and hold above 4440, there may be further upside room opened. If there is a clear breakdown below 4400, the long momentum will slow down—then it’s better to stand by and wait for consolidation.
In one sentence overall: the trend is bullish—buy on pullbacks, don’t chase, and 4400 is the most important today’s key bull-bear line.
$XAU