Amidst all the delta variant chaos, only one thing shines. Investors return to safe-havens.   

Gold has been consolidating around $1,800 levels. With the resurgence of cases attributing to the yellow metal, in addition to growing concerns of inflationary risks. Technically if gold was able to break $1,830 key resistance then it creates an opportunity for further highs.  

Additionally, Economic indicators haven't been on track for the past few weeks starting with a disappointing job report and a lower than expected Q2 U.S. GDP and today lower than expected Chinese manufacturing figures. This means that a slow-down in recovery momentum is affecting world economies and of course investors as they start to pull back and stay cautious.  

And from the last U.S. Federal Reserve meeting, we can establish that, although markets expected cutting back on the $120 billion quantitative easing at a closer date. It seems like it’s on the table but not due yet, which is good for the bullion.  

The U.S. job report due this Friday will be an ultimate game-changer for the bullion, depending on the USD strength. That is if the data is lower than expected we could see the safe haven heading upwards.

Overall gold futuristic outlook seems favorable ahead of the U.S. Job report even if it takes a dip below $1,800 levels to $1,789, the level it hit on July 23, it is still expected to consolidate between $1,830 and $1,850.

*Gold on the Daily frame*