To The Moon

$Gold - main 2604(GCmain)$ The daily chart for gold prices shows the upward trend remains intact. As long as gold prices hold above the 20-day moving average (MA, 4957.36), the market structure remains bullish, and bulls are targeting higher prices.

The 14-day Relative Strength Index (RSI) is significantly above the midline, indicating a bullish bias; the MACD histogram is narrowing in negative territory, showing that bearish momentum is gradually weakening.

On the upside, if gold can continue to recover and hold above the $5100 level, it may accelerate towards the January 30 high of $5450.95. Further strength could see it challenge the historical high of $5596.33. Short-term support is at $5000-$5010!

Gold is expected to continue its wide-range fluctuation today, trading between $5010 and $5150! The trading strategy remains buy-on-dips!

Strategy: Buy: 5020-5025 TP: 5080-85-90 SL: 5005 (Set according to personal preference) $XAU/USD(XAUUSD.FOREX)$

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Gold prices surged to around $5118 on Wednesday (February 11), ultimately closing with a gain of over 1% at around $5083. US gold futures for April delivery also rose 1.3%, settling at $5098.50. This surge was particularly noteworthy because it occurred against the backdrop of exceptionally strong US January non-farm payroll data—130,000 new jobs were added, far exceeding market expectations of 70,000, and the unemployment rate fell from 4.4% to 4.3%. Normally, such data would reinforce expectations that the Federal Reserve will maintain high interest rates, putting significant downward pressure on gold. However, gold prices rebounded quickly after a brief pullback, demonstrating the extreme resilience of the bulls. On Thursday (February 12) in early Asian trading, spot gold weakened slightly, currently trading around $5055, down about 0.5%.

Friday's CPI Data and Future Outlook The market's current focus is undoubtedly on the upcoming US January CPI report. This data will directly influence the market's assessment of the inflation path. If the CPI shows easing inflationary pressures, it will strengthen expectations of a June rate cut, which is beneficial for gold. Conversely, if inflation exceeds expectations again, it may temporarily suppress gold prices, but given strong fundamental support, the downside is expected to be limited.

The US initial jobless claims for the week ending February 7 and the annualized total of existing home sales in January will also be released today. Investors should pay attention to these figures.

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