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

The breakdown of the V-shaped recovery on US jobs data signals that macro data releases are now the primary driver of gold's intraday swings, overriding technical patterns. This affects short-term traders and momentum funds who had been relying on the rebound's support. The key question is whether gold can find a new floor above $4,365 or if further data-dependent selling pressure persists into the next session. The modest weekly losses suggest the market is consolidating rather than reversing outright, making the next major economic indicator the focal point for direction.