$BTC The U.S. job market presents a "tale of two cities": the latest non-farm data shows an increase of 64,000 jobs, exceeding expectations. However, the previous month's data has been significantly revised down to a decrease of 105,000, and the unemployment rate has surged to 4.6%, a three-year high. At the same time, wage growth has slowed to the lowest level in four years. This contradictory pattern of "strong on the outside, weak on the inside" is pushing gold prices to remain firmly above $4,300 per ounce, with the $5,000 barrier gradually coming closer.

Deep support remains solid: The Federal Reserve Chairman has publicly pointed out that employment statistics are persistently overestimated, and actual employment may be shrinking each month, reinforcing expectations for policy easing. After three cumulative rate cuts this year, the market has begun to price in further rate cuts in 2026, with the U.S. dollar index falling below 98, providing support for gold. Meanwhile, global central banks' enthusiasm for purchasing gold remains strong, with China having increased its reserves for 13 consecutive months, and several international investment banks have successively set target prices at $5,000.

Although gold prices may face technical adjustments around $4,350 in the short term, the medium to long-term upward trend remains clear under the combined influence of employment concerns, a shift in monetary policy, and geopolitical uncertainties. $4,300 is not the peak but rather the cornerstone for moving towards higher targets—the upward momentum of gold continues to accumulate. $BNB