Gold Erases Its 2014 Gains After U.S. Employers Add Jobs
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Gold erased this year’s gains after U.S. employers added more jobs in September than forecast, stoking speculation that the Federal Reserve will move closer to raising interest rates. Silver fell to the lowest since 2010.
Futures for December delivery fell as much as 2 percent to $1,190.30 an ounce in New York, the lowest since Dec. 31. Prices that in March were up as much as 16 percent for the year are headed for the first back-to-back annual losses since 1998. The metal tumbled 28 percent last year, the most in three decades.