Gold short-term pullback breaks below 4300, non-farm data tonight ignites the market
On December 16, in the Asian market, spot gold once dropped below 4300 USD/ounce, currently fluctuating around 4285 USD, with an intraday decline of 0.5%. The main reasons are profit-taking combined with a cooling of risk aversion. The Federal Reserve's third interest rate cut this year, along with global central banks increasing their gold holdings for 13 consecutive months, provides support for gold prices.
Tonight, three key pieces of data, including non-farm payrolls, will determine the direction of gold prices: weak employment may raise interest rate cut expectations, leading to a rise in gold prices; strong data may trigger selling. From a technical perspective, the bullish trend remains unchanged, with resistance to watch at 4350/4365/4381 USD, and support to focus on key levels at 4285/4257/4210 USD. #黄金 $XAU
