Gold falls 0.4% on US jobs day but gains 5% for the week; copper drops 3.8%

The divergence is the story: gold absorbed a hot jobs print with only a modest pullback yet still closed the week sharply higher, while copper's weekly slide points to a different read on growth and industrial demand. That split suggests gold's bid is being driven by something other than the rate path alone. Whether copper's weakness is demand-driven or positioning-driven, and whether gold can hold gains once the payrolls reaction fades, are the open questions worth watching.