The ADP employment report will be released on Wednesday, and non-farm payrolls will be released on Friday. These data will help measure the performance of the US economy, which will have a significant impact on the Fed's policy actions, the US dollar and gold prices.
Gold technical analysis: Last night, the price of gold fell rapidly. Although it hit 2315 and began to rebound, it was still relatively weak overall. In the morning, gold was affected by the inertia of the falling wave. There were signs of turning down in the one-hour short-term. It is expected to test the effectiveness of the 2315 support level again. In the daily K chart, the stochastic indicator is temporarily in a sticky state, and the upward trend has not continued to show; the waterfall decline will not happen for the time being, after all, the indicator has no signs of a dead cross continuation. From the perspective of form, it maintains a range form, with the large range being 2420 to 2280 and the medium range being 2365 to 2315.
The 4-hour trend is mainly around the range of 2365 to 2315. The subsequent trend consolidation needs to wait for market guidance. Today, the support of 2315 should be paid attention to, and the further support should focus on the 2300 US dollar mark. If gold continues to fall, the price of gold will test the support level near 2285 to 2280 US dollars. On the upside, if the price of gold can stand above 2365 US dollars, the price of gold will rise further in the future, and will continue to rise to test 2400 US dollars. On the whole, the short-term operation strategy of gold today is to rebound and short, supplemented by callback and long. The short-term focus on the upper side is 2345-2350 resistance, and the short-term focus on the lower side is 2320-2315 support.