Non farm farming is coming, gold bulls are strong
① The uncertainty of trade policy dynamics continues to provide safe haven support for gold.
② The Bank of England's interest rate cuts have reduced the opportunity cost of holding gold and increased its attractiveness.
③ Federal Reserve policy expectations and inflation expectations will affect the medium - to long-term trend of gold prices. If the Federal Reserve continues to maintain its loose policy, it may provide support for gold prices.
④ Geopolitical risks remain the focus of market attention, and the uncertainty of geopolitics makes investors tend to hold gold as a safe haven asset.
Overall, the current gold fundamentals are still dominated by bullish gold. Today, investors are focusing on the 4-hour uptrend line below gold to support the 2845 area. After the gold correction stabilizes, they will continue to go long. Meanwhile, investors need to closely monitor US non farm payroll data, global economic growth expectations, and Federal Reserve policy developments.
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