On February 12, the gold market hit a low near 5,000 during the early session, then entered a phase of high-level consolidation throughout the day. During European trading hours, it showed consecutive small gains with clear resistance to declines, indicating potential for a breakout after sideways movement. A long position was recommended, and the price surged to above 5,100 USD. However, bearish non-farm payroll data halted the bullish rebound, pulling the price down to 5,019 before recovering. The session ended with a bottoming-out rally, aligning with expectations.
The outlook for the day anticipated a sideways consolidation followed by an upward breakout. Although the evening pullback was significant, gold firmly held above the 5,000 mark. It was emphasized that the low of 5,019 had already been established, and instead of waiting for a retest, entering long positions near 5,050 was advised to capture gains of 30–40 USD. Recent market behavior shows that after stabilizing at lows, gold tends to rebound strongly. Waiting for a pullback to 5,019 might result in missing the entry, so direct long positioning was suggested. As long as entries are not made near 5,100, capturing gains of several dozen USD remains feasible.
The medium- to long-term bullish outlook remains unchanged. Short-term consolidation is seen as accumulation of momentum for a base formation. The strategy of buying on dips and maintaining long positions is upheld. A key concern remains the optimal entry point for long positions. Gold has stabilized above 5,000, and even bearish non-farm payroll data failed to break below this level, with the lowest pullback stopping at 5,019. Today, using 5,019 as a defensive level for long positions, traders should look for dips to enter, anticipating a further push toward 5,100. If gold shows limited pullback during the afternoon and European sessions and continues to consolidate, entering long positions in the 5,035–5,045 range is recommended to capture a sideways breakout. Given gold’s recent high volatility, missing a suitable entry may lead to regret. Traders should execute follow-up positions with proper risk management.
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