Gold tops $4,300 after July U.S. payrolls fall 23,000, hitting seven-week high

A weaker July US jobs report (payrolls down 23,000) reduced expectations for further Fed tightening, pushing real-rate assumptions lower and supporting non-yielding assets. Gold rallied above 4,300 to a seven-week high, reflecting increased demand for duration-like hedges amid shifting policy expectations. Near-term focus will be on how subsequent inflation and labor data validate the repricing in rate paths.