2026-01-08 04:25:47

On Thursday, spot gold fluctuated around the $440 per ounce level. The nearly 1% decline yesterday really unsettled many people. Honestly, the reason for this drop is quite simple—on one side, there were significant gains earlier, and large investors took the opportunity to lock in profits; on the other side, US economic data exceeded expectations, reducing market risk aversion, and gold prices responded by pulling back from $4500 per ounce.

But does this signal a trend reversal? Not necessarily. From a fundamental perspective, the factors supporting gold prices remain solid. The upcoming US initial jobless claims and December non-farm payroll reports are particularly critical—if employment data weakens, gold prices are likely to rise again. Additionally, the market generally expects the Federal Reserve to start a rate-cut cycle this year, and a low-interest-rate environment will naturally enhance gold’s appeal as a safe haven.

The technical story is also quite interesting. Gold prices surged at the beginning of this week, reaching a new high of $4500 yesterday, then turned downward, closing with a bearish candle. However, they found support at 4423 (where the 5-day and 7-day moving averages converge), and rebounded back near 4460 by the end of the session—this pattern looks more like a shakeout by the main players, pushing out retail traders following the trend. The RSI remains above 50, and the price is between the middle and upper bands of the Bollinger Bands, indicating a consolidation pattern.

Today’s key level to watch is the 4478 threshold. If the price holds above this level, it may continue to push toward 4500, with a breakout targeting the 4530 to 4546 range. Conversely, if it cannot hold above 4478, be prepared for further pullback, first supporting at 4430, then below that at 4400.

For long positions, consider entering between 4420 and 4430, with a stop-loss at 4410, targeting 4500 to 4530. For short positions, consider entering between 4480 and 4490, with a stop-loss at 4500, aiming for 4420 to 4400. Also, keep in mind key support levels at 4435, 4420, and 4400, and resistance levels at 4478, 4492, and 4518. Ultimately, the key is: avoid blindly chasing high and low; let the data and technical analysis guide your decisions.

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GasFeeCryBaby

· 5h ago

Getting stuck at 4478 again, so annoying really

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BlockchainTherapist

· 01-10 07:34

It's the same old trick of shaking out the market; retail investors should wake up. The gold price has long sensed this correction. Strong US data suppresses safe-haven assets, and when rate cut expectations emerge, it rebounds again—old routine. Wait for the non-farm payrolls; that's the real turning point. If 4478 can't be broken, look downward; don't be fooled by the rebound. Main players are tired of using the shakeout tactic, yet some still fall for it. The gold market only has a chance when the rate cut cycle begins; currently, this level of volatility isn't worth paying attention to. Basically, it's a gamble on the non-farm payrolls outcome; everything else is just a side show.

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BitcoinDaddy

· 01-09 23:55

Is 4478 really that important? It seems like the main players just enjoy playing heartbeat here.

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WenAirdrop

· 01-09 00:54

Once again, been shaken out, the fate of retail investors. This round of gold is really just the main force performing magic; as long as 4478 isn't broken, I will continue to buy the dip. No matter how nicely you put it, it's still gambling. I'll wait until the non-farm payroll report. Entering at 4430 feels a bit panic-inducing; it seems like there will be more declines. Technical analysis looks good, but what's the use? The Federal Reserve is the real boss. I'm numb; talking about selling high and buying low is easy, but in practice, you're just getting cut. The rate cut expectations are supporting the market; in the short term, there's no sign of a reversal.

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ChainDetective

· 01-08 04:55

Gold is being manipulated there again. Talking about a reversal, let's wait for the data to see.

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ThreeHornBlasts

· 01-08 04:52

It's another shakeout, and the big players are harvesting retail investors. Don't panic about this drop; the data hasn't come out yet. If 4478 can't be broken, it will continue to fluctuate, nothing new. The expectation of interest rate cuts is still there; gold can't run away. The main focus is still on non-farm payrolls; that's the key. If the Federal Reserve cuts interest rates, gold will have a chance. The technical outlook is just like this, no big surprises. Only when 4500 is broken will it be a true reversal; right now, it's nothing. It's normal for retail investors to be shaken out; that's how big players operate. Just remember the key levels, don't overcomplicate it.

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LuckyBlindCat

· 01-08 04:51

It's another washout, another main force, and it's making my head buzz. Gold is falling again, then rising, my eyes are all blurred. Is the 4478 level really that magical? It feels like every day is about the watershed. Basically, it's just gambling on unemployment data, nothing else. Stop-loss, stop-loss. Hearing that, the money lost could buy a few grams of gold. Data is the real boss; technical analysis is just a joke. Too lazy to calculate all those points, just watch if it hits 4500 and decide whether to enter or not. Let's wait for the Federal Reserve's rate cut to land first, everything else is pointless.

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OfflineNewbie

· 01-08 04:28

Is this another shakeout? I just want to ask, can you please not cut me again this time?

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defi_detective

· 01-08 04:27

The main force's manipulation tactics are back again; retail investors must watch out. Still looking for support at 4423? This rebound doesn't feel very genuine. Interest rate cut expectations support the market, but as soon as US data exceeds expectations, it turns around. Gold remains unpredictable. Looking favorably at the key point 4478; if it breaks, accept the loss and don't be greedy. Non-farm payroll data is the real watershed; only then will we know if the breakout is genuine.

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