U.S. non-agricultural employment data fell short of expectations for the second consecutive month, but traders believe this may not affectMidlandTimetable for savings and reductions; spot gold rose 1.46% in intraday trading, refreshing its high since September 22 to 1,781.41 US dollars per ounce, but it almost gave up the intraday gains in late trading and closed at 1756.99 US dollars per ounce.
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At 20:30 on Friday evening, the US September seasonally adjusted non-agricultural employment report was released. The data recorded an increase of 194,000, far below the expected 500,000. The number of new non-agricultural employment in August was revised up from 235,000 to 36.6. Ten thousand people; the number of new non-agricultural jobs in July was revised up from 1.053 million to 1.091 million. At the same time, the September unemployment rate was 4.8%, which was lower than expected 5.1%.
After the data was released, spot gold continued to rise by nearly US$20, breaking above US$1780 per ounce, but then fell back and fell below the 1770 mark; spot silver hit a maximum of US$23.18 and then fell. COMEX’s most active gold futures contract was traded at 5,841 lots within one minute at 20:30 on October 8, Beijing time, with a total value of 1.033 billion US dollars. Subsequently, within a minute of 20:40, there were 2100 lots of trading orders, with a total value of 373 million U.S. dollars.
Judging from the daily K-line level, the short-term gold price has gone out of a period of rising, and the overall trend has begun to accelerate. After the non-agricultural data is bullish, it began to explode. It once rose by 1780 line, and then fell back. The short-term support point is on the 60th. Moving average support needs to be focused on.
From the perspective of the 4-hour K-line level, the short-term KDJ is still a deadlock trend, so there was a downtrend in the middle of the night yesterday. From the perspective of trading volume, it is more the reason for the long profit. Judging from the 1-hour K-line level, the short-term RSL has a bottom rebound trend. Next week, the price of gold needs to focus on pressure levels: 1760, 1765, 1770; support levels: 1750, 1745, 1740.
Tips:Non-agricultural people are “stunned”, and the gold market is surprised to see a V-reversal! Please pay attention to the Jintou.com APP for specific operations. The market is changing rapidly and investment needs to be cautious. The operation strategy is for reference only.
(Source: Jintou.com)
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