Precious Metals Daily Observation Report

Consolidating with sideways movement, the trend remains upward, patience is key.

Last night, gold surged to 4455.67 but was blocked there, then the entire trend entered a phase of oscillation at high levels. Currently, the price is stuck around 4448, with the 7-day and 20-day moving averages holding steady, preventing a decline. In the short term, the market is bouncing between 4440 and 4455, mainly performing a bottoming process. The medium-term support depends on whether the 90-day moving average at 4422.87 can hold.

From a technical perspective, there is still hope.

In the medium-term structure, the 7-day, 20-day, and 90-day moving averages are aligned very normally, forming a typical bullish pattern, indicating the trend is not bad. This stage is a strong consolidation after a rally, with short-term moving averages clustered together, showing hesitation from both bulls and bears. The market is waiting for a new signal to confirm the direction.

Today, there is a major event to watch—non-farm payroll data will be released on January 6. Fluctuations in the US dollar index and inflation expectations will directly change the direction of gold prices. During this period, the Asian session is likely to remain oscillating within the 4440 to 4455 range. The key level is 4455.67; if it is broken effectively, the space between 4480 and 4500 will open up. The key support level to watch is 4443; if broken, it will likely trigger a move down to the strong support zone between 4422 and 4428.

Trading Recommendations

If it stabilizes above 4455.67: Lightly go long with a target of 4480.
If it falls below 4443: Look for a rebound opportunity around 4422 to 4428, but control the pace before non-farm payroll data—avoid being too aggressive.

Risk Warning: For reference only, not investment advice. The market carries risks; trade cautiously.