World gold drops after US jobs data


Gold prices fell from a near four-month high on Friday (Dec 2), after strong US jobs data stoked concerns that the US Federal Reserve (Fed) may continue to tighten monetary policy aggressively.

– Ending Friday’s session, the spot gold contract fell 0.4 percent to $1,794.96 an ounce, after touching its highest since Aug 10 at $1,804.46.

– Gold futures contract lost 0.31% to 1,809.6 USD/oz.

Data showed that the US economy created more jobs than forecast in November 2022 and increased wages despite fears of a recession.

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