The key to the short-term gold price trend still depends on the non-farm payroll data. If the data comes in strong, the expectation of the Federal Reserve continuing to raise interest rates will become more solid, and gold prices will face a new round of downward pressure; conversely, if the data is weak, market perceptions of the Fed will soften considerably, and gold might attempt to break through the 4500 level. Before the official release, traders usually choose to wait and see, expecting gold to fluctuate between 4455 and 4480.

From a technical perspective, the issue lies at the 4452 level. Gold rebounded from there, but the momentum was not strong enough. Next, close attention should be paid to the support zone at 4455-4460—if this holds, bulls still have a chance to test the 4480 resistance; if it is broken, the next support levels are at 4440-4430.

Based on this situation, the trading strategy is roughly as follows:

1. In the 4450-4455 range, consider buying in batches, with a stop loss at 4440, targeting 4480 and higher.

2. Once the price rebounds near 4485, consider a light short position, with a stop loss at 4495, and profit targets at 4450-4455.

The overall pattern still depends on the data, and right now, it’s more about the technical support and resistance game.