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Gold today fell for a second day as the dollar strengthened before US jobs data that may add to signs the economy is improving, fuelling speculation the Federal Reserve will scale back monetary stimulus.
Gold fell 1.3 per cent to $1,234 an ounce. Prices were little changed this week after reaching $1,180.50, the lowest since August 3, 2010.
Silver also fell 2.1 per cent to $19.15 an ounce. It was down 2.7 per cent this week and the worst performer in the Standard and Poor’s GSCI gauge of 24 commodities this year.
The gold gained 2.7 per cent this week as a record 23 per cent slump in the second quarter spurred purchases.
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