Gold Brushing $1270 after U.S. Jobs Data

Gold held steady on Monday after posting its biggest weekly gain in five weeks on speculation that the Federal Reserve would slow the pace of its stimulus tapering after a weak U.S. jobs report raised questions over the state of economic recovery.

Spot gold was little changed at $1,266.01 an ounce by 0021 GMT, after gaining 0.7 percent in the previous trading session. Gold is often seen as a safe-haven investment.

Data on Friday showed that U.S. job creation slowed sharply over the past two months, turning in the weakest performance in three years.  A union steward was killed in a clash with police at an Anglo American Platinum mine in South Africa, where workers were holding a strike to press for higher wages.


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