Gold plunges near $80 on US jobs data, breaks V-shape reversal

TREE NEWS reports: Spot gold dropped 0.98% to $4,429.07/oz at Friday’s New York close, tumbling from above $4,470 to a daily low of $4,365.73 at 21:01 Beijing time on the US nonfarm payrolls release, breaking the earlier V-shaped rebound. Silver fell 1.22% to $66.1650/oz, while gold and silver posted weekly losses of 0.57% and 0.27%, respectively.