 "gold, gold prices")
Gold prices fell on Friday as the dollar and Treasury yields strengthened after traders lowered bets for US interest rate cuts to materialise by March next year following a stronger-than-expected jobs data.
Spot gold fell 1 per cent to $2,008.79 per ounce by 9:55 am ET (1455 GMT), and was down nearly 1 per cent for the week so far. US gold futures also lost 1 per cent at $2,025.10.
The dollar index firmed 0.2 per cent, making bullion more expensive for overseas buyers. Also, 10-year Treasury yields
ticked higher.
US job growth accelerated in November while the unemployment rate fell to 3.7 per cent, suggesting financial market expectations of a rate cut early next year were probably premature.
Traders had earlier priced in about a 60 per cent chance of a March start to Fed rate cuts, but after the jobs data, pared that to just under 50 per cent, with May now a more likely starting point.
Traders will seek further confirmation from the Federal Reserve meeting scheduled on December 12 to 13.
