金价创纪录后回落，非农报告成美联储政策路径关键指引

Core Viewpoint - The focus is on the upcoming U.S. non-farm payroll report, which is expected to influence the Federal Reserve's interest rate decisions and subsequently impact gold prices. Recent data indicates a softening labor market, which has led to increased expectations for rate cuts and heightened demand for gold as a safe haven [1][3][4]. Group 1 - Gold prices fell by 0.4% to $3545.63 per ounce, with a low of $3511.44 per ounce during the session, primarily due to profit-taking by traders after a record high [3][4]. - The increase in initial jobless claims to 237,000, exceeding expectations of 230,000, reflects a cooling labor market, reinforcing the anticipation of rate cuts by the Federal Reserve [3][4]. - The non-farm payroll report is seen as a critical indicator that could shift market expectations regarding the Federal Reserve's monetary policy, directly affecting the U.S. dollar and gold prices [3][4]. Group 2 - The recent surge in gold prices was driven by a strong upward trend, but the market is now cautious ahead of the employment report, with many investors opting to wait for clearer data before making significant moves [3][4]. - The technical outlook suggests that a breakthrough in the $3530-$3560 range could provide direction for short-term price movements [4]. - The potential for gold prices to return to historical highs exists, particularly if employment data is weak, while strong employment figures could lead to increased downward pressure on gold prices due to a stronger dollar and rising yields [4].