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The Economic Times
The Economic Times
Business

FOUND: Gold slides after robust us payrolls boosts rate hike bets | Mind Blowing Facts

Gold fell on Friday and was headed for a weekly ​loss after stronger-than-expected U.S. jobs ​data boosted expectations that the Federal Reserve could raise interest ​rates as soon as this month, denting non-yielding bullion's appeal.

Spot gold slipped 1.1% to $4,422.91 per ounce by 10:50 a.m. EDT (1447 GMT), putting it on track for a mild weekly decline. After ‌the data, ⁠bullion fell ⁠more than 2% to an intraday low of $4,364.99 per ounce.

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