Giá vàng cuối tuần đối mặt với thử thách kép: Dữ liệu phi nông nghiệp và phán quyết chính sách thuế quan

【Coin Circle】Analyst Giuseppe Dellamotta recently pointed out that gold’s current uptrend is mainly driven by geopolitical tensions and weak U.S. economic data, with bullish momentum still sufficient. However, the U.S. non-farm payroll data to be released this Friday could break this situation.

The previous report was questioned due to credibility issues against the backdrop of government shutdown. This time, the data should provide a more accurate picture of the economic situation. If employment data comes in strong, traders may readjust their expectations for the timing of Fed rate cuts, and gold prices could subsequently fall sharply. Conversely, if the data disappoints, gold’s upward momentum would receive further support.

There is another variable worth noting—the U.S. Supreme Court is scheduled to release a ruling on Friday, and Trump’s tariff policy is likely to be the focus. Once tariff measures are overturned by the court, stagflation expectations may ease and gold prices would come under pressure. But if tariffs remain as is, while unlikely to trigger violent swings, they would still provide support for gold price increases.