On Thursday, January 9, the gold market presented a scene reminiscent of a turbulent sea, where investors found themselves navigating through a thrilling and unpredictable landscape

Initially, during the Asian market hours, the market resembled a dormant beast, maintaining a relatively steady pace, much like a calm sea hiding ominous undercurrentsHowever, tension mounted when gold prices dipped below the pivotal level of 2670, activating bearish forces that swiftly began to emerge like sharks detecting blood in the waterAstute investors, sensing this shift, hurried to establish short positions, imagining lucrative opportunities beckoning from the shadows.

As time progressed, the market's volatility surged, with gold prices retracing closely to 2649, the low point reached during the early hoursIt was at that moment that the bulls, akin to a lion awakening from slumber, retaliated with unexpected vigorThis sudden turn of events left many investors bewildered; those who had been basking in the prospect of a profitable short position found themselves jolted by the sheer strength of the bullish counterattack

• Broad-based Dominance, Affordable Accessibility
• Political Power Shifts Reshape Global Trade
• US Stocks Decline Further
• China A-Shares: Growth Prospects and Headwinds
• Fed to Raise Rates Again, Gold Soars

This surge in buying pressure propelled gold prices upward, unveiling a majestic ascension.

As the evening session unfolded, the gold market ignited into a fervent spectacle, pulsating with excitementThe prices successfully breached the critical 2670 barrier, similar to breaking through a fortified stronghold, which instantly elevated investors' spiritsWhen the prices retreated but remained above 2660, investors glimpsed the possibility of further ascension, thereby eagerly entering long positionsTheir expectations soared, anticipating that the New York trading session would extend this promising rally like ripe fruit awaiting harvestAnd indeed, during this period, the gold prices ascended robustly, failing to disappoint their hopeful predictions

However, the enthusiastic momentum soon began to wane, and as the night deepened, gold prices faced exhaustion, showing signs of plateauing before experiencing a slight retracementNonetheless, the good news emerged as gold managed to hold firm above the launch point of 2660, as if it were a resolute soldier standing its ground while continuing to inch upward, granting investors a moment of relief amidst the evolving landscape.

In fact, this oscillating upward trend was no mere coincidence; it signified the orchestrated efforts of major players conducting a carefully considered shakeout operationThe trading charts revealed clear patterns: every abrupt decline in prices was met with a rapid rebound, akin to a spring releasing tension, consistently staying above the initial launch point

This classic oscillating upward pattern seemed designed to offer strategic entry points for attentive investorsEach time gold prices dipped, it signaled an opportune moment to go long, while surges in prices indicated the need for vigilance, suggesting potential exits or short positionsOf course, effectively timing short positions could equally yield significant gains, much like experienced surfers catching the perfect wave amidst the tumultuous ocean, relishing both the thrill and rewards the market offered.

Entering Friday, January 10, investors, armed with the insights gleaned from the previous day's experiences and eager anticipation of market movements, prepared to engage further in the gold marketThey understood the importance of analyzing the patterns from the last three trading days, reminiscent of navigators charting their course based on the stars and ocean currents

Typically, during the Asian session, markets exhibit a phase of oscillation, resembling the tranquil morning seas that appear serene yet contain boundless possibilitiesAs the afternoon European session approached, prices were expected to rise gradually, similar to the sun taking its ascent and clearing the morning mists, revitalizing market activityThe New York session was anticipated to experience further climbs, akin to the midday sun growing ever more intense, eliciting a heightened warmth within trading circlesHowever, it was understood that as the evening progressed, gold prices might exhibit signs of fatigue and a subsequent retreat, resembling the picturesque sunset, beautiful yet inevitably fleetingYet, as long as gold prices held above the daily launch point, they would continue to shine like a guiding lighthouse, signaling investors toward a trend of slow yet steady upward movement.

Thus, today, investors must remain vigilant and attuned to this rhythm of market operations

With gold having already breached upward, they must proceed as if aboard a ship with its sails unfurled, steering in accordance with market direction, allowing the prevailing winds to guide their journeyNaturally, mid-term bullish trends could arise unexpectedly, akin to storms brewing in the distance; therefore, investors should stay alert and be prepared to respond promptly to any emerging changes.

When it comes to specific trading strategies, investors must exercise utmost caution and precisionThey should closely monitor the overnight dip near 2662, a pivotal reference point akin to a strategic stronghold on the battlefieldDuring the Asian and European sessions today, if gold prices retract towards this low, akin to a hunter lying in wait for prey to enter a trap, this would present an excellent opportunity to position long orders

To manage risk, a protective threshold could be established at 2655, resembling a defensive line on the battlefield; should prices fall below this, timely stop-loss measures must be employedTargets should be flexible, adapting to market movements and the strength of upward trendsFor short-term shorts, investors should practice patience, awaiting signs of bullish momentum tapering off later in the New York session before committing, akin to a sniper waiting for the perfect shot, allowing for maximized returns under secure conditions.

Moreover, on the evening of January 10, crucial non-farm payroll data will be released, carrying significant weight akin to a lit fuseInvestors must remain alert, paying close attention to how these figures unfold and making decisions based upon moments of the data release as it would alter the dynamics of trading considerably