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Gold drops as strong US payrolls boost dollar, yields

In light of stronger-than-anticipated US payroll figures, gold prices dipped significantly as the data suggested a robust labor market.

  • Gold prices fell 0.3% to $4,074.36 per ounce after strong US employment data
  • US nonfarm payrolls exceeded expectations, unemployment rate dropped to 4.1%
  • Higher interest rates make dollar-denominated gold more expensive for investors

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