Gold futures on the COMEX division of the New York Mercantile Exchange fell after sound U.S. jobs data and strong dollar.
The most active gold contract for December delivery fell 2.1 U.S. dollars, or 0.17 percent, to settle at 1,262.60 dollars per ounce.
Job Openings and Labor Turnover Survey data, which measures monthly job openings, came in at 6.163 million in June, exceeding both the expected 5.6 million and last month's 5.702 million.
The report, along with a better-than-expected labor reading last Friday, was seen by some commodity investors as keeping intact the Federal Reserve's plan to raise interest rates at least once more in 2017.
Higher rates tend to act as a boost to the dollar, drawing traders looking for higher rates on dollar-based deposits.
But higher rates can be a headwind for metals, making them more expensive to buyers using weaker currencies and undercutting the appeal of a commodity that doesn't bear a yield.
As for other precious metals, silver for September delivery added 13.8 cents, or 0.85 percent, to close at 16.389 dollars per ounce. Platinum for October went up 2.9 dollars, or 0.3 percent, to settle at 974.5 dollars per ounce.
The most active gold contract for December delivery fell 2.1 U.S. dollars, or 0.17 percent, to settle at 1,262.60 dollars per ounce.
Job Openings and Labor Turnover Survey data, which measures monthly job openings, came in at 6.163 million in June, exceeding both the expected 5.6 million and last month's 5.702 million.
The report, along with a better-than-expected labor reading last Friday, was seen by some commodity investors as keeping intact the Federal Reserve's plan to raise interest rates at least once more in 2017.
Higher rates tend to act as a boost to the dollar, drawing traders looking for higher rates on dollar-based deposits.
But higher rates can be a headwind for metals, making them more expensive to buyers using weaker currencies and undercutting the appeal of a commodity that doesn't bear a yield.
As for other precious metals, silver for September delivery added 13.8 cents, or 0.85 percent, to close at 16.389 dollars per ounce. Platinum for October went up 2.9 dollars, or 0.3 percent, to settle at 974.5 dollars per ounce.
Latest comments