According to data from the World Gold Council, gold ETFs saw significant net inflows in July, with a total net inflow of nearly $3 billion. European gold ETFs absorbed $11 billion, increasing holdings by 39 tons, while Asia became the largest buying region. The entire market is collectively bullish on gold, providing long-term buying support for gold prices. Today's non-farm payrolls came in lower than expected, signaling a cooling U.S. job market. This pressured the dollar and raised expectations for rate cuts, which is bullish for gold. On the technical side, the longer the consolidation, the higher the breakout. After half a year of sideways movement, gold and silver have finally broken out on the daily chart. Currently, XAU's resistance level is at 4380. 4380 is not only the high from June but also the daily downtrend line. Monkey Bro thinks shorting at 4380 offers a good risk-reward ratio, with a stop loss at 4450.