Why did gold price drop 2 today More downside coming Gareth Soloway on metals, stocks, Bitcoin

Gold price saw its biggest singleday drop today since June on the back of a strong jobs report. Gareth Soloway, chief market strategist at 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.