Kitco News, Released on 1/8/21

Investors are dumping lower yielding assets like gold to buy higher volatility securities like Tesla shares and bitcoin, said Gareth Soloway, chief market strategist at In The Money Stocks, but Soloway is not selling his gold yet.

Soloway’s comments come as Friday’s nonfarm payroll report showed a loss of 140,000 jobs in December, the most since the start of the pandemic.

0:00 – Why gold is getting “pounded” today
2:27 – Inflation expectations down
3:31 – Money pulled out of gold
6:30 – 140,000 jobs lost in December
7:45 – Next key levels for gold
13:50 – Yield curve rising