Pre-NFP Eve: Gold V-Shaped Rebound, What’s the Outlook?

Tonight, the US will release the February Non-Farm Payrolls data, with market expectations currently indicating the unemployment rate will remain at 4.3%. If the data shows strong performance, the Federal Reserve is likely to continue maintaining high interest rates, which will put downward pressure on gold prices; if the data underperforms, it will boost market expectations of an early rate cut by the Fed, benefiting gold prices.

From the 1-hour chart, gold has broken through short-term moving averages and regained above 5100, with bullish momentum somewhat restored. However, the current KDJ indicator is in the overbought zone, indicating a short-term pullback may be needed. The middle band of the Bollinger Bands around 5113 is a key resistance level: if the price can hold above this level, gold may further test 5140–5150; if it faces resistance and pulls back, focus on the support zone around 5080–5090.

Trading Suggestions
• If the price encounters resistance and pulls back after rebounding near 5140–5150, consider short positions with a light position, targeting 5110–5090.

• If the price stabilizes and stops falling around 5080–5090, consider long positions with a light position, targeting 5120–5140.

Before the Non-Farm Payrolls data is released, strictly control your position size, avoid heavy positions, and patiently wait for the data to be released before making further moves. #现货黄金 #黄金