张尧浠：大小非农预携手利好、金价回落有限仍持看涨

Core Viewpoint - The international gold market shows signs of limited pullback despite a weakening bullish momentum, with expectations for a rebound remaining strong, particularly if prices drop to support levels around $3500 or $3450 [1][3]. Price Movement - On September 4, gold opened at $3560.94 per ounce, reached a high of $3563.88, then fell to a low of $3511.28 before closing at $3545.57, marking a daily fluctuation of $52.6 and a decline of $15.37 or 0.43% [3][5]. - The price movement was influenced by a stabilizing dollar index, technical adjustments, and profit-taking at historical highs, but was supported by buying on dips and positive economic data [3][5]. Economic Indicators - Key economic indicators to watch include the U.S. unemployment rate, adjusted non-farm payrolls for August, and average hourly wage growth, which are expected to be favorable for gold prices [5]. - The market anticipates that if these indicators are positive, gold may initially decline before rebounding [5]. Technical Analysis - The weekly chart indicates that gold has tested the mid-band support for the fourth time since last year's rise, with an overall upward trend remaining intact despite potential pullbacks [7]. - The daily chart suggests that as long as gold does not close below the 5-day moving average, bullish momentum is expected to continue, with key support levels at $3535 or $3524 and resistance at $3573 or $3590 [9]. Future Outlook - The outlook for gold remains bullish, with potential targets of $3700 and $4000 in sight, contingent on market conditions and economic data [7][9].