In the early Asian session on Friday (June 6), spot gold fluctuated slightly higher and is currently trading near the 3360 mark. Gold prices fell on Thursday as the leaders of China and the United States eased trade tensions. Trump called the trade discussions with Chinese leaders "positive", which put pressure on gold's safe-haven demand. Friday's non-farm payrolls data will be crucial to the next move of gold prices, and weak data may boost gold prices.

Bitop analysts pointed out that the fate of gold prices will depend on the non-farm payrolls data released on Friday. If the data shows that the labor market remains solid, gold prices may fall as the dollar strengthens. On the other hand, if the non-farm data is weak, investors' confidence that the Federal Reserve may cut interest rates earlier than expected will increase, and gold prices are expected to rise further.

From the daily level of spot gold, although the price of gold fell back in the middle of the week, it did not have much impact on the pattern. It can be seen that after breaking through the downward channel, the short-term retracement test is quite a policy, and the support of the moving average group has not been lost, so there is a chance to stabilize and continue to rise steadily. However, considering that the non-agricultural data will be released tonight, it is not ruled out that there will be a new round of impact on the long and short battles.

From the 4-hour level of spot gold, after successfully breaking through the key top and bottom conversion of the 3350 line, the bulls actually have a certain advantage. However, given the current market fundamentals There are many uncertain factors, so the rebound space of gold prices is temporarily limited. If tonight's non-agricultural data is conducive to the Fed's restart of interest rate cuts, it may continue to provide strong support. In terms of operations, it is recommended to keep buying on dips and wait for the data to be released before making adjustments. Pressure: 3360-3370-3380 Support: 3345-3330-3320.

Disclaimer: The article is contributed by the market analyst from Bitop market observation team. The content is solely for personal opinions and sharing. The analysis is time-sensitive and provided for reference and discussion only. It does not constitute any investment advice. The market is risky, so investing should be done cautiously.