Gold Futures Pare Declines After U.S. Payrolls Report

- Gold futures pared declines as the U.S. economy added fewer jobs in June than forecast, reflecting a more moderate pace of growth.

The addition of 223,000 jobs followed a 254,000 increase in the prior month that was less than previously estimated, a Labor Department report showed Thursday in Washington.

Gold futures for August delivery fell 0.7 percent to $1,161.10 an ounce at 8:32 a.m. on the Comex in New York. Gold capped a fourth straight quarterly decline on Tuesday, the longest slump since June 1997, amid concern the Federal Reserve is moving closer to raising interest rates for the first time in nine years.

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