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Gold Rebounds as U.S Payrolls Data Ease Concerns Over Stimulus

  • Payrolls accelerated but by less than economists expected
  • Fed’s Williams says now is not the time to adjust bond-buying
Barrick Cuts Gold Output Forecast for Eighth Potential Drop
Photographer: Luke MacGregor/Bloomberg
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Gold rebounded, paring a weekly decline as a smaller-than-expected gain in U.S. payrolls helped ease concerns that the Federal Reserve will pull back stimulus.

Payrolls increased by 559,000 last month, according to a Labor Department report Friday. The median estimate in a Bloomberg survey of economists was for a 675,000 rise. The dollar and Treasury yields initially dropped after the report. The weaker dollar also helped copper extend gains on the London Metal Exchange.