Jobs Data

Bitcoin has regained relative strength against gold as ETF demand helps offset pressure from elevated borrowing costs. Traders are watching $82,300 support, the Bitcoin to gold ratio near key resistance, and upcoming US inflation and jobs data.

Gold edged lower Tuesday as traders weighed a firmer Federal Reserve rate outlook against technical support near the 50-day moving average. The metal remains under downside pressure, but sellers have yet to force a decisive break beneath the key average.

Gold edged lower as traders weighed a firmer Federal Reserve rate-hike path against support at the 50-day moving average. The metal remains under technical pressure, with sellers watching whether upcoming jobs data can shift December policy expectations.

Gold’s brief rally built on a dovish Federal Reserve signal lost momentum after August payrolls came in stronger than expected. The move shifted attention back to yields, the dollar, and rate expectations, leaving precious metals under renewed pressure.

Spot silver fell sharply after breaking below the $66.87 pivot, turning that level into near term resistance. Traders are now watching $62.98, $61.51 and the wider $60.835 to $54.78 support zone as Friday’s jobs data approaches.

Bitmine bought 7,391 ETH last week, its smallest weekly Ethereum purchase of the year, while increasing attention on share repurchases. Chairman Tom Lee said softer inflation and jobs data could support crypto despite the CLARITY Act missing a Senate vote before the August recess.

Bitcoin climbed toward $62,000 as a wave of liquidations squeezed bearish traders and lifted major tokens across the market. Ether and Solana outperformed, while weaker U.S. jobs data helped ease pressure on risk assets.