šÆ Non-farm payroll employment increased by 353,000 people, significantly higher than the expected 200,000, with the unemployment rate remaining at a low of 3.7%.
šÆ According to the Fed Watch tool, the market probability of a 25-basis-point interest rate hike in June has risen to 1.5%, while the probability of an interest rate cut in June has almost dropped to zero.
š„ Today, the international gold market has shown a trend of stabilizing in oscillation and a slight rebound amid the resonance of multiple macro events. Spot gold was quoted at 4,666.91 US dollars, rising 57.86 US dollars or 1.26% within the day, rebounding from the overnight low of 4,599.7 US dollars.
š Market Outlook
š 4,600 US dollars is an important psychological and technical level for gold. The decline of gold price to this level triggered a large number of bargain-hunting buying and short covering. Gold will maintain a large oscillation range of 4,500ā4,800 US dollars in the short term. For investors, the current oscillating correction is more like a stage of momentum accumulation after a major market shakeout.