#美国就业数据表现强劲超出预期 December 18th Asian Market Gold Price Movement Observation

The US dollar index has been fluctuating today — it briefly approached the 98 level in the early session, but by the end of the day, it recovered much of its decline, closing down 0.13% at 98.28. The 10-year US Treasury yield closed at 4.181%, while the 2-year yield was 3.516%, with overall bond market yields trending downward.

Supported by the weakening dollar and falling bond yields, spot gold temporarily surged above $4350 during the session but couldn't withstand the pressure, falling over $60 from its high. It ultimately closed up 0.12% at 4305.54. Silver performed even more strongly — moving in tandem with gold, it approached historical highs, closing up 3.4% at 64.07.

A reminder here: Gold opened today with little correction, moving higher in a continuous rally, causing short-term technical indicators to diverge, with upward momentum clearly waning. Be cautious of a sudden sell-off in the US session similar to last Friday. If a correction occurs, the lows below could become important support levels for tomorrow’s Asian session.

From a technical perspective: key resistance is at 4350-4353.5, with stronger resistance above at 4380-4384. Support levels below are sequentially 4333, 4320, 4300, and 4280-4270.

On the 4-hour chart, gold is being pressed against the previous resistance zone at 4350. After a rally, it has pulled back, now in a high-level consolidation phase. The focus in the short term should be whether the 4310 support can hold. The hourly chart looks weaker — the price has broken below the short-term high range, with candlesticks pressed against short-cycle moving averages, indicating a bearish bias. The downside space may further open up.