Gold Holds $4,300 Breakout as Copper Nears Record Highs

Gold is holding its breakout. Spot bullion traded $4,338 to $4,342 an ounce in Monday's Asian session, just above the $4,300 level it cleared last week on a 7% rally, the best weekly run since January. Friday's weak July jobs report (nonfarm payrolls at negative 23,000 against a plus 80,000 estimate, with May and June revised down a combined 103,000) is still doing the work. Key Takeaways Gold spot held $4,338 to $4,342 an ounce Monday, defending the $4,300 breakout after a 7% weekly rally tied to Friday's weak July jobs print (nonfarm payrolls at negative 23,000 vs. an expected plus 80,000). GLD closed Friday at $398.47 (up 2.26%) and SLV at $57.50 (up 2.95%), while gold miners GDX and GDXJ…