香港第一金：昨日黄金高位回落1.26%，是牛市回调还是见顶信号

Core Viewpoint - Recent fluctuations in gold prices have led some investors to sell for profit, resulting in a decline of approximately 1.26% in gold prices. However, strong demand persists, particularly from central banks, indicating that the gold bull market is not over yet [1]. Group 1: Market Trends - Gold prices have recently experienced a continuous rise, prompting profit-taking among investors [1]. - Central banks purchased 53 tons of gold in October, reflecting robust demand [1]. - The Hong Kong First Gold platform suggests that despite potential volatility due to rapid price increases, the gold bull market remains intact, recommending strategic buying on dips [1]. Group 2: Trading Strategies - In the current high-level market, the strategy is to avoid chasing prices and focus on key support levels for potential buying opportunities [2]. - Key resistance levels are identified at the $4264-$4250 range, while support levels are at $4200-$4180 and $4160 [2]. - Short-term strategies include considering light long positions if prices pull back to the $4200-$4180 range and show bullish candlestick patterns [3]. Group 3: Long-term Investment Approach - A "buy on dips" strategy is recommended for long-term positions, treating each pullback as an opportunity for accumulation [4]. - Initial accumulation should begin at the $4180-$4200 support area, with further purchases at lower levels if prices decline [4]. Group 4: Economic Data Focus - Upcoming economic data includes the U.S. November ADP employment report and the delayed September PCE price index, which are crucial for market sentiment regarding interest rate adjustments and may influence gold price volatility [5].