At present, the market is basically certain that the Fed will cut interest rates in September.
Therefore, even if the non-agricultural data tonight is slightly better than expected or the previous value, it will not put too much pressure on the gold price, and the optimistic prospect of falling inflation will continue to support the gold price.
If the non-agricultural data is weaker than expected, it will help gold rise even more.
In short, for a period of time, the main line of interest rate cuts will dominate the direction of gold's trend. Any decline or shock adjustment will create entry opportunities for bulls.
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