Gold Starts the Week at 1230 after U.S. Jobs Data

Gold ended lower on Friday after U.S. jobs data beat forecasts, strengthening the case for the Federal Reserve to start reducing bond purchases as soon as this month.

Gold tumbled close to a five-month low immediately after U.S. data showed employers had hired more workers than expected in November and the unemployment rate had dropped to a five-year low of 7 percent.

When gold failed to drop to the five-month low, it began to rise on technical support. When the price got to $30 above the session low, gold trimmed gains.

CNBC

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