Gold prices have risen nicely this week, locking in a 3.4% weekly gain by Thursday. Traders are now betting on the non-farm payroll report on Friday — trying to glean some clues about the Federal Reserve's interest rate cut plans for this year.



Soojin Kim, an analyst at Mitsubishi UFJ Financial Group, straightforwardly said: The market is waiting for the December non-farm payroll report on Friday. Expectations are for continued strong hiring, but a steady unemployment rate. This "strong and steady" scenario actually doesn't give the Fed much incentive to restart rate cuts.

Another issue currently on traders' minds is the appointment of the Federal Reserve Chair. Treasury Secretary Mnuchin revealed that President Trump is expected to announce the new Fed Chair later this month. This decision could directly influence the future direction of interest rate policies, so it’s worth paying close attention.
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CodeZeroBasisvip
· 01-09 12:05
Gold prices are rising quite well, just waiting for Friday's non-farm payrolls to shake things up. Even if the non-farm data is strong, it doesn't necessarily lead to rate cuts; the key is who the new chair will be. Everyone is betting on Friday, but I just want to see who Trump finally chooses as the Federal Reserve Chair—that's the real variable. A weekly increase of 3.4% isn't much; if the new chair is hawkish, gold prices will directly retrace. Waiting for the non-farm numbers, but it feels like market expectations have already been locked in; Friday might just be another false alarm.
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NewDAOdreamervip
· 01-09 11:53
The non-farm report is coming to stir things up again. Can we get some surprises this time? Really, a rate cut is nowhere in sight, and hearing "strong" every day is getting boring. The Fed chair is changing, now that's the real variable. Keep a close eye on it. Wait, gold prices rose 3.4% and you're this excited? We've seen even more dramatic moves.
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zkNoobvip
· 01-09 11:37
The non-farm data seems to be disappointing again, with interest rate cuts still a distant hope.
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GasFeeSurvivorvip
· 01-09 11:37
All the non-farm data are fake before they are released; the real bomb is the presidential candidate.
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