Gold swung between gains and losses after better-than-expected U.S. jobs data lifted the dollar to the highest level since July 2010 and increased speculation that the U.S. Federal Reserve will scale back stimulus.
Gold for immediate delivery traded little changed at $1,223.53 an ounce at 2:10 p.m. in Singapore after advancing and declining 0.6 percent. Prices dropped to $1,208.58 on July 5, the lowest since June 28, retreating for a third week.
Bullion slid 23 percent last quarter as some investors lost faith in the metal as a store of value after Fed Chairman Ben Bernanke said the central banks may slow asset purchases if the economy continues to improve. Employers added 195,000 workers last month, the report on July 5 showed, beating the increase of 165,000 predicted by economists. Minutes of the central bank’s June meeting are set to be published on July 10, when Bernanke will speak at a National Bureau of Economic Research conference.
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