Xingran Midnight Gold Market Analysis
September’s Non-Farm Payrolls “surprised cold,” with only 290,000 new jobs added. Market expectations for a rate hike by the U.S. Federal Reserve in October have dropped significantly, easing the near-term pressure on gold prices. Gold has repeatedly hovered above $4,100. This level is close to the central bank’s gold-buying support zone, and downward pressure from bearish traders has weakened.
Based on the latest market news and technical trend, after multiple tests around the $4,100 area, gold has not continued to drop sharply, indicating that support here is currently still effective.
💰 Trading Ideas
Entry reference: If gold retraces to around 4100–4110 and stabilizes, you may consider opening a long position with a light allocation.
Stop-loss reference: Place it below 4060. If price breaks below this level, it suggests the support has failed.
Take-profit reference: The first target is around 4150. If price can break through and hold above it, then look for the 4180–4200 zone. $XAU #币安推出BinanceIntelligence
September’s Non-Farm Payrolls “surprised cold,” with only 290,000 new jobs added. Market expectations for a rate hike by the U.S. Federal Reserve in October have dropped significantly, easing the near-term pressure on gold prices. Gold has repeatedly hovered above $4,100. This level is close to the central bank’s gold-buying support zone, and downward pressure from bearish traders has weakened.
Based on the latest market news and technical trend, after multiple tests around the $4,100 area, gold has not continued to drop sharply, indicating that support here is currently still effective.
💰 Trading Ideas
Entry reference: If gold retraces to around 4100–4110 and stabilizes, you may consider opening a long position with a light allocation.
Stop-loss reference: Place it below 4060. If price breaks below this level, it suggests the support has failed.
Take-profit reference: The first target is around 4150. If price can break through and hold above it, then look for the 4180–4200 zone. $XAU #币安推出BinanceIntelligence