Gold market analysis

"Gold Price Surges but Remains Steady at 4,200" 4/12/2025 10:11 Finalized 

Yesterday, ADP announced that the number of private sector jobs in the US decreased by 32,000 in November. This was seen by the market as a basis for the Federal Reserve to likely cut interest rates this month. After the data was released, the spot gold price rose from the $4,211 level, reaching a high of $4,240.59 before falling sharply to $4,232.95. It then rose again, eventually reaching a high of $4,241.74 before plummeting. The price then fluctuated downward, hitting a low of $4,195.25 in the New York midday session before gradually recovering. This morning, it gradually reached a new intraday high of $4,216.58. 

Looking at the trend of spot gold prices yesterday, the overall situation still could not break away from the sideways pattern. However, the support at $4,200 was relatively strong. Even if $4,210 was still taken as the central axis, compared with the beginning of this week, the gold price has clearly shifted from fluctuating below this level to developing above it. Nevertheless, it is obvious that since the beginning of December, the major players seem to have left the market, resulting in a lack of directional guidance for the gold price and causing it to fluctuate repeatedly. 

$4,195 for strong technical support 

In the short term, the gold price trend has not changed much. The moving average lines on the hourly chart have lost their reference value, and it is not advisable to overly trust the breakthrough signals of the hourly candlestick chart, as this often leads to buying high and selling low. However, the breakthrough signals on the 5-minute and 1-minute charts can bring profit opportunities. Currently, from the 5-minute chart, $4,195 is a clear technical support level for gold. However, $4,210 was gained and then lost. Within the day, it may return to fluctuate within the range of $4,210 to $4,160. But this is on the premise that the gold price clearly breaks below $4,200. However, I still believe for now that $4,200 is a relatively strong technical support level for gold. Be cautious of false breakthroughs. For short-term rebounds, the first major resistance is $4,218.5. If broken, it is possible to rise further, and the possibility of breaking the high of yesterday cannot be ruled out. 

The above content is for reference only and does not constitute investment advice.