Tonight at 9:30 PM, the US December unemployment rate and seasonally adjusted non-farm payrolls will be officially released. This will be a critical moment in determining the short-term direction of gold. Many traders are waiting for this data because it directly influences the Federal Reserve's upcoming monetary policy decisions.

Let's look at the expected data: the unemployment rate is forecasted to drop from 4.60% to 4.50%, indicating that the job market is gradually improving. The expected increase in non-farm payrolls is around 60,000, slightly less than the previous 64,000, but overall still showing moderate growth.

From a market logic perspective, if the data comes out stronger than expected, the Federal Reserve might reconsider the pace of interest rate hikes, or even consider rate cuts. Once the dollar comes under pressure, gold has the opportunity to strengthen, as precious metals often gain upward momentum in such environments. However, if the economic data is not as good as expected, risk aversion in the market will intensify, and the dollar might strengthen instead. In that case, gold could face a pullback.

Currently, market sentiment remains cautious. Before the non-farm payrolls are released, gold is likely to continue trading within a range of consolidation. Traders should be alert, as there is often a gap at the moment of data release, so it’s crucial to strictly control positions and avoid chasing the market or rushing to cut losses. Caution and timing are key in this operation.