Gold: Gold values slip following strong USA employment data

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Gold values fell today following the strong USA data that showed much more jobs than what the market expected were added during the month of March, lifting the dollar and backing up the expectations that the United States authorities may move towards a tighter monetary policy. It is known that during periods of rise in the US dollar the value of Gold tend to drop.

The precious metal dropped by around 1.6 percent to a record a session low at USD1412.41 an ounce. The United States job market recorded a second straight month of gains in March, rising by 216,000 jobs, while the unemployment rate dropped to a two-year low of 8.8 percent. Gold is currently traded at USD1425.92 an ounce.