In the recent gold market, many voices have shouted, 'Gold is going to rise, it's time to buy at the bottom.'. However, I believe that now is not the time to buy at the bottom.

Last weekend, the news of the central bank increasing its holdings of gold after half a year attracted widespread attention in the market. As a result, the gold price surged to 2648 in the morning session. Undoubtedly, this is a great piece of good news. Looking back six months ago, when the central bank first mentioned suspending its increase in gold holdings, the price of gold fell sharply. And this increase in holdings will inevitably push up the gold price. The morning opening market price also rose as scheduled, but after a brief surge, it quickly fell back. Obviously, this bullish trend is still not enough to change the current volatile pattern.

 After the release of non farm payroll data, the number of newly employed people reached 227000, far exceeding the expected 200000 and far ahead of the value of 12000. The unemployment rate slightly increased to 4.2%, which is in line with market expectations. This was originally a big positive data, but it did not drive down the price of gold. Instead, it significantly increased market expectations for the Federal Reserve's interest rate cut in December. However, even so, this bullish factor failed to significantly increase the market price and break through the oscillation range. At the same time, news of the Syrian opposition occupying Damascus and other safe haven activities emerged, but the safe haven sentiment did not have a significant impact on gold prices.

From last week and even last week's market trends, the entire market is in a prolonged phase of volatility, with prices in the market deeply trapped in a stalemate of volatility. In this volatile situation, we have repeatedly emphasized that even if there is positive news, it often only presents a trend of rising and falling; When negative news strikes, it is mostly a bottoming out rebound, and it is difficult to break the overall oscillation pattern due to the rhythm of a certain news. After being bombarded with both long and short news, the market price remained within the expected range: either rising and falling, or bottoming out and rebounding!

From a technical perspective, in the past six weeks, there has only been one single positive rebound positive line at the weekly level, followed by a consecutive negative close. This indicates that the positive line is difficult to drive prices back to strength, and the high-level triangular oscillation situation remains. The daily closing line often presents a long shadow, a long shadow, a cross star, a spindle, and other closing forms, which are typical oscillation characteristics that highlight the fierce competition between long and short sides, thus forming a more obvious range. In this range, if the price rises, you can pay attention to the rise and fall, and when it falls, pay attention to the bottoming out and rebounding.

 When approaching the upper limit of the range, attention should be paid to the pressure on prices and their decline; When approaching the lower track, focus on supporting rebound. Do not blindly speculate that the market will go bullish or bearish and rush to buy at the top or bottom.

 From the perspective of time cycle, the current time window has not yet been completed, and the first two weeks of December are still in a period of continued volatility. When trading gold, we cannot only focus on price changes, time is also an extremely important reference factor.

 In summary, for the gold trend of this trading day, we should continue to adhere to the idea of oscillating around the range. Don't be swayed by short-term news fluctuations, stick to rational investment, and avoid impulsive buying or chasing high prices!