Gold survives robust growth in US labor market and a hawkish Fed, a banking crisis could spark the next rally
==========
Gold prices dropped roughly $20 after the US Bureau of Labor Statistics reported that 353,000 jobs were created in January, beating expectations. However, the growing turmoil in the US banking sector could continue to provide support for gold. Despite the selloff, gold managed to hold critical support levels and closed the week in positive territory. Some analysts see potential for gold to rally, while others expect lower prices in the near term. Gold will be sensitive to the threat of another banking crisis. Jim Rogers, Chairman of Rogers Holdings, predicts the worst crash of our lifetimes is coming. Donald Trump said he will not reappoint Jerome Powell as Chair of the Federal Reserve if he is re-elected as President.
#Gold #UsLaborMarket #FederalReserve #BankingCrisis