Technical analysis by BenGray9 about Symbol PAXG on 4/4/2025

Impact of Non-farm Payroll Data on the US DollarThe increase in non-farm payroll employment in the United States in March far exceeded expectations, indicating the strength of the U.S. labor market and, in turn, suggesting that the overall U.S. economy is relatively healthy.Strong economic data will boost market confidence in the U.S. dollar, attract global capital inflows into the United States, increase the demand for the U.S. dollar, and drive the appreciation of the U.S. dollar.After the release of the non-farm payroll data in March, the U.S. dollar index rose sharply in the short term, laying the foundation for the bearish sentiment of XAUUSD.Impact of Non-farm Payroll Data on GoldOn the one hand, a stronger U.S. dollar makes gold priced in U.S. dollars more expensive for investors holding other currencies, thus suppressing the demand for gold and leading to a decline in the gold price.On the other hand, the slowdown in the annual rate of average hourly earnings alleviates the inflation risk driven by wages, weakening the attractiveness of gold as a tool for hedging against inflation.In addition, the rebound of U.S. Treasury bond yields due to favorable economic data also reduces the attractiveness of gold as a non-yielding asset.Considering these factors comprehensively, the gold price has been under pressure after the release of the non-farm payroll data, and XAUUSD shows a bearish trend.Without professional guidance, the fluctuations in the market, whether in terms of its downward or upward movements, are truly remarkable. If you manage to pick the right direction, there's a great chance for you to reap substantial profits. However, what if you make an incorrect choice? Are you genuinely capable of shouldering the resulting consequences? Rather than getting involved in such trading that resembles gambling, I'd much prefer that you hold off and wait until the market stabilizes before making a comeback to the trading scene.The market has been extremely volatile lately. If you can't figure out the market's direction, you'll only be a cash dispenser for others. If you also want to succeed，Follow the link below to get my daily strategy updates