Market Overview - Gold prices increased last Friday, approaching record highs, as signs of a weak U.S. labor market strengthened expectations for the Federal Reserve's first rate cut of the year this week [1] - Spot gold closed at $3648.55 per ounce, up 0.4%, nearing the record high of $3673.95, marking the fourth consecutive week of gains [1] - December futures for U.S. gold rose 0.3%, settling at $3686.40 [1] Economic Indicators - Recent data showed a significant increase in initial jobless claims in the U.S., alongside weak non-farm payroll data, with employment positions revised down by 910,000 over the past 12 months, indicating a cooling economic momentum [1] - The consumer price index in August recorded the largest month-on-month increase in seven months, but investors are focusing more on labor market weakness than persistent inflation when forming interest rate expectations [1] Federal Reserve Expectations - The federal funds futures market fully priced in a 25 basis point rate cut at the September 17 meeting, with bets on a potential 50 basis point cut [1] - President Trump anticipates that the Federal Reserve will implement "significant rate cuts" [1] Technical Analysis - The gold market is currently in a bullish trend, with short-term high consolidation expected [2] - Key support levels for gold are identified at $3600 and $3500; a drop below $3600 could indicate a shift in market strength, while a breach of $3500 may signal a change in the bullish-bearish trend [4] - The H4 timeframe shows a more defined consolidation pattern, with a trading range expected between $3615 and $3660 for early this week [4] Domestic Gold Market - The domestic gold market is also experiencing high-level consolidation, with support levels set at 830 for Shanghai gold and 820 for Rongtong gold [5] - The market is expected to maintain a bullish trend in the early part of the week, with potential for a downturn following the Federal Reserve's rate decision [5]

Group 1 - The current spot gold price is fluctuating around $3550 per ounce, with a recent drop of 0.4% to $3545.63 per ounce, and a low of $3511.44 per ounce during trading [2] - Investors are focused on the upcoming U.S. non-farm payroll report, which could influence the Federal Reserve's interest rate decisions and subsequently affect gold prices [2] - Weak employment indicators are reinforcing expectations for interest rate cuts, supporting gold's safe-haven demand, while better-than-expected data could put more pressure on gold [2] Group 2 - After a dip, gold rebounded and is currently in a consolidation phase, with key levels to watch being $3575 for resistance and $3510 for support [3] - The $3500 level is identified as the last support for bulls, with a significant upward movement of over $200 observed this week despite a $70 drop on Thursday morning [3] - Technical indicators suggest a bullish trend for gold, with the stochastic indicator showing no clear bearish signals and MACD lines trending upwards [3] Group 3 - Domestic gold prices in China are rising in line with international market trends, with potential for a pullback [3] - The suggested trading strategy includes light short positions in domestic gold, with targets around 818 for Shanghai gold and 810 for accumulated gold, depending on the non-farm data impact [3]