10.20 Today's gold trend analysis, gold bullish trend is obvious

⭐️ Gold market trend analysis

New jobless claims in the U.S. unexpectedly fell last week, suggesting that the labor market remains tight and that job growth has been strong for another month.

The jobless claims report covers the week in which the government surveyed businesses on nonfarm payrolls data from October's jobs report.

During the September and October survey period, the number of jobless claims declined. The economy created 336,000 jobs in September, the most in eight months. Following recent dovish comments from a number of Fed officials, the market spotlight will also be on Powell's speech at the Economic Club of New York for more clues on the path of interest rates.

The labor market remains strong despite the fact that the US central bank has raised its benchmark overnight interest rate by 525 basis points since March 2022 to the current range of 5.25%-5.50%.

It is driving consumer spending and the broader economy, ultimately keeping inflation high, leading many economists to expect the Fed to keep interest rates higher for longer.

⭐️ Gold's current trend is completely stimulated by the news, crazy unilateral rise, from 1810-1982 has been unilateral more than 170 points, daily are the Yang continuous volume pulled, its rally is not according to common sense. The situation in the Middle East is still escalating, gold is closing your eyes and rising, overnight it broke through the 1963 high, bulls like a tiger.

Now gold is in a crazy rise stage, the operation is bullish, don't look at what pressure, the strength of the pullback is quite limited, the daily situation has been very clear.

MA5-MA10 moving average maintained the entry to the upside, MACD red column can continue to increase, Bollinger band upper band space has been opened, we have laid out long orders in 1972 in the morning, giving opportunities can still be more, above pay attention to the pressure around 1985.

⭐️ Gold operation strategy: long near 1972, stop loss 1967, target 1980-1985;

Gold operation strategy: short near 1985, stop loss 1990, target 1978-1973

(FYI, at your own risk)