#Gold Technical Analysis# 24K99 news On Friday (January 10), in the Asian market's late session, spot Gold suddenly rose rapidly in a short time, with the price approaching 2680 USD/ounce. The well-known financial news website Economies.com published a latest article on Friday, analyzing the technical outlook for Gold during the day.

According to Economies.com, the technical aspect of Gold is showing Call signals, and the current price is awaiting further rises, with the first target aiming at 2700.00 USD/ounce.

At 21:30 Beijing time on Friday, the USA will release the closely watched non-farm employment report, which is expected to cause significant fluctuations in Gold prices.

Analysts expect that the USA's non-farm employment numbers in December last year will increase by 0.16 million, down from a notable increase of 0.227 million in November.

FXTM Senior Research Analyst Lukman Otunuga stated that if the weaker-than-expected non-farm employment report reignites bets on substantial rate cuts in the USA, Gold prices may strengthen. A stronger-than-expected non-farm employment report may weigh down Gold prices, as expectations for rate cuts further diminish.

Economies.com noted in the article that Gold prices are displaying bullish tendencies and are approaching the bullish target of 2700.00 USD/ounce that we are anticipating. The price of Gold completed a double bottom formation previously, which supports the upward trend. It should be pointed out that if the price of Gold breaks through 2700.00 USD/ounce, this will drive the price further up, with the next bullish target located at 2760.00 USD/ounce.

(Spot gold 4-hour chart Source: Economies.com)

Economies.com added that the condition for Gold to maintain a bullish trend is for the price to remain stable above 2640.00 USD/ounce; once it falls below this level, it will expose Gold prices to bearish pressure, with the first target being to test the 2600.00 region.

Economies.com predicts that today the Gold price will trade between the Resistance of $2650.00 per ounce and the Resistance of $2685.00 per ounce.

Economies.com stated that the expected trend for gold prices today is bullish.

At 15:06 Peking time, spot Gold is quoted at $2678.72 per ounce.