Gold fell around 2
percent on Friday, its biggest one-day drop in over three weeks,
as funds dumped bullion after resilient U.S. jobs data suggested
the Federal Reserve could begin to scale back its monetary
stimulus later this year.
The metal posted its first weekly drop in two weeks after
Friday's selloff more than erased gains earlier this week. A
sharp dollar drop and strong physical demand had lifted gold
above $1,400 an ounce for most of this week. For the week,
bullion eased 0.3 percent.
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