Gold extended its slump, and silver tumbled, after a stronger-than-expected U.S. jobs report fueled bets that the Federal Reserve may start paring back its massive monetary stimulus soon.
Spot bullion fell more than 4% and silver slumped as much as 7% as the selloff following Friday’s employment figures initially accelerated at the start of Asian trading. Dallas Fed President Robert Kaplan said the central bank should start tapering its asset purchases sooner rather than later, and in a gradual manner, fanning expectations that stimulus will be reined in.
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August 09, 2021 at 06:53AM
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Gold Tumbles With Silver as 'Panic' Selling Grips Asian Open - Bloomberg
"selling" - Google News
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