GOLD COMMENTARY ON DECEMBER 11:

- Last Friday, the highly anticipated US #NFP Nonfarm Payrolls increased by 199k in November compared to the previous period's level of 150k. Additionally, the Unemployment Rate decreased to 3.7% from 3.9% in the previous release. The market predicts no change in interest rates at the December meeting and expects the dot plot to turn lower.
- This week the US will announce the consumer price index #CPI and producer price index #PPI, in which the market pays special attention to #CPI.
- Today gold will recover slightly, it is expected that gold will run in a range of 202x - 199x
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TODAY'S STRATEGY:
🔴 SELL soup 05-08 (Summer 2011)
🔴 SELL soup 14-17 (Summer 2020)
🔵 BUY 94-91 soup (season 1988)
Goodluck ☘️☘️☘️

Nonfarm payroll data released last Friday is still better than market expectations. This may cause the FED to not cut interest rates as soon as the market expects. This is the factor putting downward pressure on gold prices. This week, investors will monitor US inflation data and the FED meeting in the middle of the week to evaluate the FED's policy roadmap.

Tet is coming soon. Try your best for the meat-filled banh chung 🥰

Gold on the h4 frame breaks the rising price channel, confirming the short-term downtrend
Next week we will watch the main selling
As for where to sell, see you tomorrow morning

🔹Yesterday's market summary:
1. The number of people applying for unemployment benefits in the US increased moderately last week

2. The first and second leaders of the Bank of Japan both expressed a hawkish attitude.

3. Russian Urals crude oil price fell below for the first time