Midday Analysis

The morning session initially dropped quickly to test the bottom, then rebounded and surged, with overall wide-range fluctuations and repeated volatility, fierce battle between bulls and bears, chaotic movements without a clear trend.
News Highlights
The Federal Reserve's rate cut expectations still support gold prices, with global central banks continuously buying gold to underpin the bottom;
Geopolitical tensions cause safe-haven fluctuations, the US dollar slightly rebounds and suppresses upward movement;
As non-farm payroll data approaches tonight, the market remains cautious and observant, intensifying the morning volatility.
Technical Perspective
The daily bullish trend remains unchanged, with heavy resistance above, short-term pressure causes a pullback and consolidation;
The 4-hour chart shows choppy sideways movement, the 1-hour chart alternates between bullish and bearish momentum with insufficient strength;
Short-term support is at 4680, resistance at 4730, with range-bound tug-of-war.
Midday Summary
Overall, the market is oscillating at high levels with a slight bullish bias, no clear trend, trading within the range of buying high and selling low is advisable, strictly cut losses, patiently wait for non-farm payroll breakout.
Today, gold is oscillating at high levels in the midday range with a slight bullish bias, mainly relying on 4680 support for low buying, shorting near 4730 resistance, avoiding chasing after a breakout before the non-farm data, strictly set stop-loss and wait for the evening data to break out. #黄金# #现货黄金# #外汇黄金# #金价#