🟢 Gold miners ETF (GDX) is trading 7.3% up today after weak U.S. jobs data

GDX is trading 7.3% higher as weak July U.S. payrolls support gold prices.

• July U.S. nonfarm payrolls unexpectedly fell by 23,000, versus expectations for 80,000 additions, reducing September Federal Reserve rate-hike expectations and pressuring Treasury yields and the dollar.
• Spot gold hit a seven-week high and gained roughly 1.7%; multiple major miners rallied in a sector-wide move, amplifying bullion’s gains through operating leverage.
• The reported $4,000 breakout and upside call toward $4,500 add speculative support.