Gold Futures Fall on Stimulus Outlook, Dollar’s Rally
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Gold fell the most in a week on bets that the Federal Reserve may refrain from more U.S. stimulus measures, while the dollar’s rebound eroded the appeal of the metal as an alternative investment.
Data from ADP Employer Services showed today that U.S. companies added more workers than forecast in June, which may ease concern that the labor market is deteriorating. The euro tumbled to a four-week low against the dollar after the European Central Bank cut its benchmark interest rate to a record.