Muyao: Non-farm payrolls dropped sharply, gold bullish momentum continues to ferment



Last month's non-farm data missed expectations, raising expectations of rate cuts and pressuring the dollar. Multiple central banks continue to buy gold, coupled with geopolitical risk hedging, multiple favorable factors support the gold price rebound.

The moving averages on the chart are turning upward simultaneously. Small pullbacks are just bullish shakeouts, with declining volume during pullbacks and stable bullish support. There is no sign of bearish volume expansion yet.

Operation strategy: Go long on dips. After a pullback to 4170 and stabilization, go long, first target the previous high at 4200, and if broken, look to 4250.

Reminder:
The above analysis is Muyao’s personal analysis. The market changes rapidly. The content is for reference only and does not constitute any investment advice!
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GateUser-94818fd0
· 18h ago
Once non-farm payrolls disappoint, gold takes off directly, and central banks of many countries are still buying heavily—this logic makes perfect sense.
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GateUser-8f9ccfec
· 18h ago
Moving average reversal + shrinking volume, classic washout pattern. Long at lows is fine, but be careful of the 4250 previous high resistance.
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DrawTheCandlestickChartIn
· 19h ago
$XAUT This trend is really stable. I placed an order around 4170, waiting for the wind to come.
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