Market Observation and Technical Diagnosis

Overnight gold surged to 4455.67 before entering consolidation. Currently, the price remains above the 7-day and 20-day moving averages, but the short-term averages have already converged, indicating a stalemate between bulls and bears. The 4440-4455 range has become a battleground for repeated tug-of-war, while the 90-day moving average at 4422.87 acts as a solid defensive line.

Medium-term view: The 7-day, 20-day, and 90-day moving averages are well aligned, and the bullish structure still holds. If the price truly breaks through the resistance at 4455.67, it is likely to surge toward the 4480-4500 range.

Data-Driven Market Focus

Today's key word is one: Non-Farm Payrolls. This data will directly influence gold's nerves, and any fluctuations in the US dollar index and inflation data can also impact the trend. During the Asian session, it is expected to maintain range-bound oscillation, and the real directional opportunity may only become clear after the Non-Farm Payrolls are released.

Practical Suggestions and Risk Management

Two approaches can be considered:

1. If the price stabilizes between 4450-4455, consider taking a small long position with a stop loss at 4420, targeting 4480 and 4500.

2. If it breaks down below 4443, it is likely to retest the 4422-4428 area. If signs of stabilization appear at this level, consider building a position.

However, before the Non-Farm Payrolls data is released, caution is essential. The cost of aggressively chasing orders at this time could be high. Be patient and let the trend speak for itself — this is the proper way to trade.