XAUUSD: 10/3 Today's Market Analysis and Strategy

Gold technical analysis
Daily chart resistance 2957, support below 2892
Four-hour chart resistance 2930, support below 2887
One-hour chart resistance 2930, support below 2897

Gold news analysis: Gold prices have fluctuated at high levels for three consecutive trading days, but the weekly line is still up 1.85%, helped by safe-haven inflows and the US employment report showed that job growth in February was lower than expected, suggesting that the Federal Reserve is expected to cut interest rates this year. In addition, the volatile tariff policy of US President Trump has also increased uncertainty. The US dollar index fell to a four-month low last week and will record its biggest weekly drop since November 2022, making gold priced in US dollars cheaper for foreign buyers. The market's focus is on the upcoming Federal Reserve meeting. The Fed's forecasts and NFP data will be key drivers. In addition, inflation reports and retail sales data will also provide more clues to the market. Although the Fed may remain on the sidelines, there is still uncertainty about the impact of tariff policies on the dollar and the economy.

Gold operation suggestions: Last Friday, the overall technical side of gold did not show a breakthrough in the long and short directions. Instead, under the influence of the positive NFP employment data, the price rose again to 2930 and then fell back, and the overall pattern remained volatile.

From the current trend analysis, we focus on the support of 2897 in the one-hour chart and 2887 in the four-hour chart below, and the resistance of 2930-35 above. In terms of operation, we are still waiting for a decline to buy. Short-term trading can be around this range to sell high and buy low. Once a breakthrough occurs, we need to follow the trend and wait patiently for key points to enter the market.

BUY:2892near SL:2887

SELL:2930near SL:2935

SELL:2885near SL:2890