12.4 Gold Trading Recommendations

On Wednesday, the U.S. ADP employment data for November significantly missed expectations—recording a decrease of 32,000 (market expectation was an increase of 10,000). The market's anticipation of a rate cut by the Federal Reserve next week continues to grow, driving spot gold to rise to $4,240/ounce before fluctuating back, eventually closing down 0.08%. Today's core focus is on the evening initial jobless claims data and its guiding role for the market.

Gold presented a clear "roller coaster" market on Wednesday: a downward trend during the Asian and European sessions, a sharp rebound during the U.S. session, and a small bearish candlestick on the daily chart. Recently, the market has shown prominent characteristics of a washout, with daytime and evening trends often exhibiting reverse fluctuations, and the nighttime market has strong repetitiveness, increasing operational difficulty. From a daily chart perspective, gold prices have failed to break the previous high for two consecutive trading days, entering the third day of consolidation today; the current price is at the upper boundary of the range, and the longer the fluctuation period, the more significant the short-term pressure risk becomes. Caution is advised regarding the pullback risk under a wide fluctuation pattern.

Intraday trading strategy: It is recommended to adopt a core idea of laying out short positions on rallies. #币安区块链周