Gold and Silver Prices Slide Lower Following US Jobs Report — Analyst Says Data Suggests 'Market Bottom Is in Place'
On Friday, October 7, 2022, the precious metals gold and silver dropped in U.S. dollar value following the recent U.S. jobs report for September. The USD value of gold per troy ounce is awfully close to slipping below the $1,700 range, while the price of silver is teetering near the $20 threshold. Precious Metals Price Patterns Follow Friday’s Equity Market Rout and Crypto Carnage Just before the weekend, Wall Street’s major indices tumbled as the latest U.S. jobs report for September is making investors believe the Federal Reserve will continue its aggressive rate hikes. The price of bitcoin (BTC) slid 3.4% against the U.S. dollar, and ethereum (ETH) dropped 3.2% during the past 24 hours. The entire crypto-economy hovering at around $979 billion on Friday, and it is down 2.4% at 2:30 p.m. (ET). In addition to the crypto economy , all four major precious metals — gold, silver, platinum, and palladium are down between 0.64% to 3.32%. Screenshot from Kitco’s...