Gold price saw its biggest single-day drop today since June on the back of a strong jobs report.
Gareth Soloway, chief market strategist at InTheMoneyStocks.com, told David Lin, anchor for Kitco News, that gold reacted adversely to rising interest rates and a strengthening dollar on Friday following the release of the jobs report.
The economy added 943,000 jobs, bringing the unemployment rate down to 5.4%.
Soloway said that once inflation picks up even more, the gold price can start to rally “dramatically.”
For Soloway’s views on stocks and Bitcoin, watch the video above. Follow David Lin on Twitter: @davidlin_TV (https://twitter.com/davidlin_TV).
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