This week, international gold rose from $4040/ounce to $4226/ounce, closing at $4219/ounce.

The continued rise in gold prices this week is due to the market 'betting' that the Federal Reserve (FED) will cut interest rates in December this year. Moreover, demand for gold in China surged as the inventory at the Shanghai Gold Exchange (SGE) fell to its lowest level in a decade.

In fact, the slowdown in private sector job growth in the U.S., combined with limited data released by the government, indicates weak economic activity and low inflation. This will continue to drive market expectations for a Fed rate cut.

Next week, the market will see several important data releases. On Monday, attention will be on the November ISM Manufacturing PMI, followed by the ISM Services PMI on Wednesday, and the October ADP private sector employment data. With no NFP data available, this data will be more closely watched than usual. On Thursday, the U.S. will release weekly initial jobless claims, core PCE, and the preliminary December consumer confidence index from the University of Michigan.

From a 4-hour perspective, gold prices have broken through the downward trend line and are moving towards the next resistance area around 4245. If this level is breached, gold prices may further test the 4370-4380 area; if unable to break through the 4245 resistance, gold prices may fluctuate within the 4045-4245 range.

Therefore, both long and short positions can be considered before breaking the range.

Short position: Enter in the 4276-4274 range, stop loss at 4280.

Long position: Enter in the 4178-4180 range, stop loss at 4174$BTC $ETH #加密市场回调 .