Gold's $4,300 Breakout: CFTC Positioning, Miner Divergence and What Comes Next
Gold is holding just under $4,340 an ounce this morning after a week that did more to reset the metal's positioning than any single data point has managed since January. Friday's July jobs report landed at negative 23,000 against a consensus for plus 80,000, with May and June revisions cutting a combined 103,000 jobs off the prior tally. That is not a soft report. That is a labor market cracking in real time, and gold read it correctly: a 7%+ weekly rally, the best since January, that took spot from the low $4,000s to a hold above the $4,300 breakout level heading into Monday's Asian session. Key Takeaways Gold spot is holding $4,338 to $4,342/oz after a 7%+ weekly rally, its best week since…
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