#美国贸易赤字状况 Gold 4484: What's the next move after reaching a high? Non-farm payroll data is key!

Yesterday, gold weakened right after opening, and only started to decline after hitting 4484 this morning. I precisely entered a short position at this level in the early hours, capturing a $30 profit, which fully aligns with expectations.

FOMC member Milani hinted on Thursday that they might cut 150 basis points by 2026. Such a dovish signal caused international gold prices to surge, with a daily increase of over $20, up 0.48%. But this is just the appetizer—the main course is today's non-farm employment data. This report will directly determine the short-term direction of gold prices.

Another thing worth noting: the U.S. Supreme Court is expected to rule on the legality of tariffs as early as Friday. If the ruling is in favor, it will be a bullish signal for gold; if against, it could trigger a wave of price shocks.

Currently, gold is retracing at 4484, entering a consolidation phase after a deep V-shaped reversal. Although the bulls haven't gained full strength yet, the support below is holding firm, typical of a tug-of-war between bulls and bears.

From a technical perspective, the daily chart shows a long lower shadow—indicating strong buying interest below. The price has stabilized above the 5-day and 10-day moving averages. The key resistance is in the 4490-4500 USD range; whether it can break through here is crucial. Short-term support levels are at 4440-4445 USD, followed by 4415-4423 USD.

The market is currently waiting for non-farm payroll data before choosing a direction. Overall, it remains oscillating between 4415 and 4490 USD. Within this range, traders should consider high sell and low buy strategies, avoiding chasing rallies or panic selling. Risk management should be the top priority.

The trading approach remains the same: go long at the support zone of 4440-4445, add positions at 4415-4423, with a stop at 4403. Target levels are 4468-4478, and if broken, look towards 4500-4510. $XAU $BTC $ETH