Gold fell for a second day to trim the first weekly advance in three before U.S. jobs data that may add to signs the economy is improving, fueling speculation the Federal Reserve will scale back monetary stimulus.
Spot gold lost as much as 0.9 percent to $1,239.27 an ounce, and traded at $1,241.32 by 2:22 p.m. in Singapore. Prices have risen 0.6 percent this week as the drop to a 34-month low on June 28 spurred purchases, while unrest in Egypt and a political rift in Portugal boosted haven demand.
Gold slumped 23 percent last quarter as Fed Chairman Ben S. Bernanke said the central bank may taper its bond-buying program this year if the economy continues to improve. Data today may show the U.S. jobless rate fell to 7.5 percent in June from 7.6 percent in May, while a separate report will probably say companies added 165,000 positions last month after increasing them by 175,000 in May.
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