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The gold market is spinning its wheels, caught in a stalemate, which could create some profit-taking among investors and weigh on prices in the near term.On Saturday McCrae recorded Kitco Roundtable.Bitcoin spiked above $61k in early trading on Friday after the latest jobs data showed that the U.S. labor market saw a notable slowdown in April, boosting rate cut expectations.
- Central bank buyers could be less sensitive to higher gold prices, said Aakash Doshi, NAM Head of Commodities Research at Citi.Gold prices jump higher after U.S. economy created 175K jobs in April, missing expectations -The gold market has found a jolt of bullish energy as the U.S. labor market lost significant momentum, creating fewer jobs than expected in April.The post-halving weakness from Bitcoin led to the first recorded day of outflows from BlackRock’s IBIT on Wednesday, but analysts remain bullish on the long-term trajectory.
It was a day of recovery for financial markets as cryptos and stocks rebounded from yesterday’s Fed-inspired pullback, with Bitcoin climbing back above $59,000. - The health of the U.S. economy is increasingly in doubt as the service sector continues to lose momentum, according to the latest data from the Institute for Supply Management released Friday morning. - Gold and silver prices are posting rallies in early U.S. trading Friday, in the immediate aftermath of a downbeat U.S.
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