The non-farm data is coming tonight, and the gold market is waiting for heavy guidance.

At 21:30 today, the U.S. will release the core non-farm data for November, including the unemployment rate, seasonally adjusted non-farm employment population, and year-on-year average hourly wage. These three data points will become key variables influencing the gold trend, and the market has entered a state of breath-holding in anticipation.

From the expected data, the U.S. unemployment rate for November is expected to be 4.4%, the seasonally adjusted non-farm employment population is expected to be 40,000, and the year-on-year average hourly wage is expected to be 3.6%. The unemployment rate and non-farm employment population directly reflect the tightness of the U.S. labor market, while wage data is related to inflation trends. Together, these three form an important reference for the formulation of the Federal Reserve's monetary policy.

For the gold market, the release of this non-farm data is highly significant as a directional indicator. Previously, gold rose to around 4350 but encountered resistance and retreated, with a double top pattern emerging in the short term. The likelihood of maintaining high-level fluctuations before the data release is relatively high.

If the non-farm data performs strongly, with the unemployment rate declining, employment population exceeding expectations, and wage growth accelerating, it may strengthen the Federal Reserve's interest rate hike expectations, putting significant downward pressure on gold. If it breaks below the support of 4285, the one-hour double top pattern will be officially established; on the contrary, if the data is weak, it may drive gold to break through the resistance of 4350, and the short-term fluctuation pattern will also be disrupted. In this context, investors need to be cautious of market fluctuations before and after the data release, and must not blindly chase up at high levels, waiting for clear signals before making operational decisions #美联储降息 #巨鲸动向