#谁将成为下一届美联储掌舵人？ Summary of Gold Market on the 22nd

Gold yesterday during the Asian session surged to 4888.33 but did not continue upward; instead, it started to weaken. Currently, the price is hovering around 4795.77, nearly $93 below the high, a decline of about 0.69%. It looks somewhat like the classic "gap up and fade" pattern—bulls ran into a resistance level and exhausted their momentum.

The short-term upward trend line has been broken, and the market is now in a correction phase. The next move depends on technical performance.

**From the indicators perspective**

KDJ is oscillating below the midline of 50 and has not entered oversold territory. Theoretically, there is still room to go lower, but it also depends on how other indicators cooperate.

On the MACD, DIFF and DEA are both below zero, with the green bars shrinking but still negative, indicating that the bears still hold sway. The short-term rebound momentum is somewhat weak.

RSI(6) is at 47.46, indicating a neutral state with no clear bias between bulls and bears, currently a stalemate situation.

**Key points to watch in the evening**

The US November core PCE data will be released tonight, with market expectations at 2.8%. The direction of this data will directly determine the subsequent pace—

If the data exceeds expectations, the Fed's expectation to maintain high interest rates will strengthen, the dollar may get stronger, and gold will continue to be under pressure.

Conversely, if the data is unexpectedly lower, rate cut trades will heat up again, and gold may have a rebound opportunity.

**Trading ideas**

In the short-term bearish setup, consider lightly shorting in the 4800-4820 range, with a stop-loss above 4820, targeting 4760-4750.

If a rebound occurs, after stabilizing around 4730-4740, you can try a small long position with a stop-loss below 4720, aiming for levels around 4780, 4790, or 4800.

**Final reminder**: Market sentiment may become cautious before the PCE release. It is advisable not to be fully long; reduce positions before the data comes out. Wait for the data confirmation and then make judgments based on the real economic situation. Avoid impulsive chasing of highs or lows.