张尧浠:强劲非农削弱降息预期 金价周尾维持震荡上行

Core Viewpoint - International gold prices rebounded strongly, maintaining a bullish outlook despite strong non-farm payroll data that cooled expectations for a Federal Reserve rate cut, supported by central bank buying and geopolitical factors [1][10]. Group 1: Market Performance - On February 11, gold opened at $5027.38 per ounce, experienced fluctuations, reached a high of $5119.05, then fell to a low of $4964.04, and closed at $5084.54, with a daily range of $155.01 and a gain of $57.16, or 1.14% [1][10]. - The market is currently digesting strong U.S. employment reports, but gold remains above bullish support levels, with long-term buying expected to drive momentum [3][12]. Group 2: Economic Indicators - Although the January non-farm payroll data was strong, it is viewed as insufficient to alter future expectations, with skepticism surrounding the data due to previous ADP reports and potential government shutdown impacts on February's figures [5][14]. - Upcoming economic indicators include initial jobless claims and January's CPI, with expectations leaning towards a bullish outlook for gold [3][12]. Group 3: Technical Analysis - Monthly charts indicate that gold has rebounded from a downward trend, maintaining a bullish outlook above the 5-month moving average, suggesting that the bearish sentiment from January has dissipated [5][14]. - Weekly charts show that gold has returned above the 5-10 day moving averages, indicating a potential for further strength in the market [7][16]. - Daily charts reflect a reduction in volatility but maintain an upward trend, with bullish momentum expected to continue [7][16].