Gold and silver have seen a strong bullish breakout, starting from around 3911 and climbing in a choppy uptrend to the current level near 4034. The intraday high reached 4038. The sustained rally has fully ignited bullish sentiment, but selling pressure is growing heavier the higher prices go. There is strong resistance around 4040, a key level of short-term resistance, with a large buildup of profit-taking positions there. A breakout to the upside will be very difficult, and chasing longs at these elevated levels carries extremely high risk, so it is not advisable to chase the rally. We recommend waiting for the price to reach around 4035 and entering a short position, with a stop at 4045. The first target is 4018, followed by 4000. If prices come under pressure and pull back, there is considerable room for a correction in this move. $XAU $XAU #XAU #美国10月非农出炉：降息还有戏吗？