Gold Prices Slip as Strong Jobs Data Fuels Rate-Hike Expectations

Gold prices slipped on Monday as investors digested strong US jobs data that reinforced expectations of higher interest rates.

The data, which showed a sharp acceleration in job growth and an unchanged unemployment rate of 4.1%, bolstered the case for a Federal Reserve rate hike this month.

Spot gold fell 0.6% to $4,402.86 per ounce as of 0420 GMT, while US gold futures for December delivery dropped by the same margin to $4,447.60.