June 8 Morning Gold Market Outlook

Last week, the non-farm payroll data significantly exceeded expectations, causing gold to accelerate downward and test lows with increased volume. This morning, the market continues to show a weak, low-range oscillation pattern, mainly relying on key support and resistance zones for range-bound trading.

Daily Market Review: Overnight, gold prices continued to decline after being pressured from high levels, with an accelerated drop to around 4310 in the evening. Currently, spot gold is trading near 4326, maintaining a weak oscillation at low levels. From the 4-hour chart, the Bollinger Bands are opening downward, with prices closely following the lower band. The moving averages are arranged in a bearish pattern. The downward momentum after the non-farm payrolls is still being released, and the overall trend this morning is bearish.

News Highlights:
U.S. non-farm employment data greatly exceeded expectations, further cooling market expectations of Federal Reserve rate cuts. The dollar index remains strong, putting obvious short-term pressure on gold, with the bearish trend continuing.

Trading Strategy:
Short in the 4334-4360 range, targeting 4314, and breaking below to 4267.

Note: This outlook is for reference only and does not constitute any investment advice. #黄金🔥 #黄金 #黄金行情 #XAU