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Evening Thoughts
Gold's early trading trend was relatively strong, rising to 4720 then normal pullback, dropping to 4692 at midday before stabilizing and beginning to rebound. During the European session, it quickly surged to 4753 but faced resistance and pulled back, with the market repeatedly pushing higher before starting to face pressure.
Non-farm payroll data is about to be released, and evening data will have a significant impact. The overall trend remains bullish, so it’s not recommended to chase the rally blindly. Pullbacks and low entries are more prudent.
Trading reference
Buy near 4722 on pullback, set stop-loss at 4707, first target 4740-4750. If the market shows strength and breaks through, it can continue toward 4800.
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