Friday, 5 July 2013

The Globe and Mail: Gold falls 3.1% as U.S. dollar hits 3-year high

Gold tumbled 3 per cent on Friday after positive U.S. jobs data sent the dollar rallying and rekindled worries the Federal Reserve could be tempted to scale back its monetary stimulus later this year.

The U.S. non-farm payrolls report for June showed employers added 195,000 new jobs last month, exceeding expectations of 165,000. The unemployment rate held steady at 7.6 per cent.

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