【International Gold and Silver Market Analysis】 On December 5, despite last night's data clearly favoring gold and silver, prices experienced unexpected volatility, catching many off guard. While the private sector added 42,000 jobs last month, this month saw a decline of 32,000—a net swing of over 70,000. It’s evident that the U.S. labor market in November is under significant pressure, deteriorating rapidly with visible weakness in both job numbers and wages. Meanwhile, the probability of a Fed rate cut has surged to around 90%, creating a broadly bullish macro backdrop.
From a daily chart perspective, gold remains in a bullish structure, trending upward within the mid-to-upper band of its ascending channel. Currently trading steadily near $4,200, bulls retain control. Short-term moving averages (5-day and 10-day) continue to diverge upward, reflecting strong buying sentiment, while the 20-day MA provides intermediate support, aligning with the rising trendline. The MACD indicator persists above the zero line; though the red bars show slight contraction, there’s no reversal signal, suggesting consolidation rather than a top formation. If gold holds above the $4,180–$4,170 range, it may test $4,250 or even $4,280. Conversely, a drop below $4,180 could trigger a pullback toward $4,150 for renewed buying support. Overall, the uptrend remains intact, with near-term bias leaning bullish.
For today’s trading strategy, Zhong Yijin (WeChat: zyj6443) recommends prioritizing selling on rallies with secondary buying on dips: Key short-term resistance lies at $4,215–$4,220—failure to break higher may present short opportunities. Support is monitored at $4,175–$4,180; stabilizing near this zone could warrant light long positions.
Note: Market analysis serves educational purposes only and does not constitute investment advice. Investors should assess risks independently.
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