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

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 , 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.”