Gold Futures Fall as U.S. Payrolls Gain Fuels Stimulus Concern
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Gold fell to a five-month low after the U.S. added more workers than forecast last month, fueling concern that the Federal Reserve will start to curb stimulus.
Payrolls climbed 203,000 in November, exceeding the 185,000 median forecast in a Bloomberg survey, the Labor Department said. Prices swung between gains and losses after the report, falling as much as 1.8 percent to $1,210.10 an ounce, the lowest since July 5, before jumping almost $35 in about 30 minutes. The metal dropped 27 percent this year on concern the Fed will cut its $85 billion in monthly bond buying.