#加密生态动态追踪 The recent rally in gold has been quite fierce, with five consecutive trading days of gains, pushing close to the historical high of 4381. The underlying logic is quite clear—after the Federal Reserve cuts rates in December, the Chairman’s remarks awakened the market: the labor market faces significant risks, and policies should not excessively suppress employment, which directly sparked investors’ imagination for two rate cuts next year. As a result, the US dollar is under pressure, and gold has become the biggest winner.

However, in the past two trading days, it has been a bit frustrating. Gold prices surged but then dropped again, and short-term selling pressure is beginning to show. Mainly, the market is waiting for tonight’s US non-farm payroll data and retail sales figures. Some investors are taking profits early to avoid risks, increasing selling pressure.

From a technical perspective, on the daily chart, gold’s momentum has noticeably weakened after continuous gains and is currently in a state of repeated fluctuations at high levels. The support levels below should focus on the breakout of 4260 from last Thursday. Once broken, short-term correction risk rises. Deeper support includes the 10-day moving average around 4240 and the psychological level at 4200.

Above, first watch whether 4300 can be broken, then the intraday high of 4317, which has been repeatedly suppressed on Tuesday. Breaking these two levels could give gold a chance to challenge Monday’s 4350. As for indicators, there are some cautious signals—although the 5-day moving average remains a golden cross, the MACD momentum is clearly fading, RSI has started to turn down, and the KDJ has also formed an initial death cross. Overall, the technical picture is signaling a short-term adjustment.

Trading strategy for today: tonight’s data is key, and market sentiment may fluctuate easily. It’s recommended to adopt a range-bound approach. The first support is at 4260, then look at 4240 and 4200; resistance levels are at 4300 and 4317. Once broken, aim for 4350.