Europe is about to have major events today, keep a close eye on this support for gold in the short term! Powell arrives hand in hand with the small non-farm payrolls.
On Wednesday (December 4th), international gold prices rose slightly, supported by safe-haven demand, while the market awaited usa employment data and Federal Reserve Chairman Jerome Powell's speech for clues regarding the usa rate cut path.
Be cautious as Powell's "sudden hawkish turn" triggers a new round of gold selloff! Short sellers target this well-known institutions' gold trading analysis.
On Wednesday (December 4th) in the Asian market's late trading, spot gold maintained a slight rebound, hovering around $2647 per ounce.
Gold trading alert: 'Non-Farm Payrolls' and Powell may trigger the market! FXStreet Chief Analyst's analysis of the technical prospects of gold.
#Gold Technical Analysis# On Wednesday (December 4th), during the Asian session, spot gold basically stabilized, with the current price around $2644 per ounce.
Gold Price Falls Significantly in November – Commerzbank
The gold price has fallen over 10 dollars from its intraday high! The employment data that the Federal Reserve is closely monitoring is coming. How to trade gold?
On Tuesday morning in the European market, spot gold has continued to decline from its intraday high of $2,650 per ounce, and the current gold price has fallen to around $2,639 per ounce, nearly erasing all intraday gains. FXStreet senior analyst Dhwani Mehta wrote that the gold price is moving lower below $2,650 per ounce, currently waiting for the usa JOLTS survey to look for new momentum.
Is Gold Losing Its Shine? Expert Insights On COMEX Gold Trends