#美国就业数据表现强劲超出预期 How is gold performing today? As of nearly 3 PM Beijing time, the London Gold price is at 4333.82, down 0.11%, while the domestic Gold T+D is at 974.7, up 0.17%. Overall, gold prices are still oscillating at high levels, but the relatively strong pattern remains unchanged.

Let's start with some key points about the price. The resistance levels above are: 4350 as a psychological barrier, and further up 4380 and 4400, which are previous highs. To break through these in the short term, effort needs to be focused on these three levels. The support levels below are relatively solid—4300, 4270, and the 100-day EMA at around 4233, all forming strong defensive lines. The trading strategy for the day mainly involves looking for pullback opportunities to buy low within the 4330 to 4350 range.

From a technical perspective, it's quite clear. On the daily and 4-hour charts, the EMA50 and 100-day moving averages are acting as support, with the overall moving average arrangement showing a bullish trend, and the upward structure remains solid. The RSI indicator is currently in the high zone, so caution is needed regarding short-term profit-taking pressure, but this does not affect the medium-term bullish pattern. The Bollinger Bands are already widening, with the upper band at 4352; if a short-term breakout occurs, this is a key level to watch.

Now, let's consider the fundamentals. First, the US employment data is not very optimistic, which reinforces market expectations that the Federal Reserve will continue to cut rates in 2026—if interest rates decline, the opportunity cost of holding gold decreases, which is positive for gold prices. The US dollar index has recently been pushed to a two-month low, giving gold some breathing room. Additionally, geopolitical factors should not be overlooked; the situation in Venezuela is still fermenting, and risk aversion sentiment is rising, naturally boosting demand for gold. Another background factor is that central banks like China have been increasing their gold reserves during this period, and this medium-term accumulation provides relatively stable support for gold prices.

Regarding trading suggestions—if the price pulls back to the 4300 to 4310 range, consider entering long positions in batches, with a stop-loss below 4280, targeting 4350 to 4380. If the price directly falls below 4280, then it’s better to wait and see, or try a small short position with targets at 4270 and 4233. Risk management must be taken seriously: volatility at high levels has increased, so individual positions should not exceed 30% of total funds, and stop-losses must be strictly enforced. Never chase after the high.