COMMODITIES: Gold Loses Luster, Down More Than $30 Following Upbeat Nonfarm Payroll Data


Gold futures weakened in Friday's session, losing more than $30, after the Labor Department reported that the U.S. economy created slightly more jobs than had been expected. Also weighing on gold were comments from former Fed Chairman Alan Greenspan, who said in an interview with CNBC that the central bank should begin easing its bond-purchasing program, according to a report on MarketWatch.

The precious metal gave up gains it logged for most of the week, with gold for August delivery down 2.29% and below $1400. Among gold-related funds, SPDR Gold Trust ( GLD ) was down 2% and Market Vectors Gold Miners ( GDX ) was down 4.22%.

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This article appears in: Investing , Commodities

Referenced Stocks: GDX , GLD

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