Spot Gold (XAUUSD) closed at $4,175.70 for the week ending July 3, up $87.31 or +2.14%. The weekly high reached $4,195.51. Gold sold off early in the week before Thursday’s June payrolls data reversed the action and produced the first weekly gain in about a month. Gold has been selling since the January highs with inflation fears and a hawkish Fed keeping the pressure on. The pullback lasted several weeks. Every time buyers tried to step in they got faded. Thursday’s jobs miss was the first real crack in the rate case, and the reaction was fast. (full story)