Gold Breaks Six-Week Range After US Payrolls Miss
Spot gold rose 2.4% Friday to $4,341.69, its highest since 17 June, after US July payrolls fell 23,000 against forecasts of an 80,000 gain. The move ended a six-week range near the 4074-4112 zone. Weekly gain exceeded 7%, the largest since January.
Nictick #2026-0027248 characters
Nictick — educational context
A range that holds for weeks builds resting orders on both sides. When a scheduled data release resolves it, the move often extends further than the news alone suggests, because positions built inside the range are being closed at the same time as new ones enter.