⏫ GOLD above 2020 USD level

Weaker macro data puts pressure on USD and we are seeing significant declines of bond yields. Final JOLTS reading was below 10 mln level first time from May 2021 (expected 10,5 mln) signalling weakening US labor market. US industrial orders also performed poorly. The data suggests a possible slowdown in the economy and a cooling of the US labor market, an important signal ahead of Friday's NFP data. In response, GOLD not only broke through $2,000, but also rose near $2020, breaking out of its consolidation. The dollar is currently losing around 0.5%, and US 10-year yields are down 3 basis points to 3.37%. 

GOLD is breaking out from consolidation zone. Source: xStation5