Gold
was firm above $1,250 an ounce on Monday after U.S. jobs data matched
expectations, while a rally in stocks curbed the metal's appeal as an
investment hedge.
Spot gold was trading flat at $1,252.51 an ounce by 0021 GMT, after losing less than 0.1 percent on Friday.
U.S.
employment returned to its pre-recession peak in May, with a solid pace
of hiring that offered confirmation the economy has snapped back from a
winter slump. Nonfarm payrolls increased 217,000 last month, the Labor
Department said on Friday.
Hedge
funds and money managers cut their bullish bets in gold futures and
options in the week to June 3 to their lowest level since mid-January,
according to data from the Commodity Futures Trading Commission on
Friday.
Among other precious metals, platinum and palladium gained.
Source : Reuters
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