Gold futures fall to 11-week low, as U.S. adds more jobs than forecast

Gold futures fall to 11-week low, as U.S. adds more jobs than forecast

Payrolls rose from the most within five months and the payment of worker accelerated, the Labor Department data showed on Friday. Image Source: http://bit.ly/1Mt9n20

Gold futures dropped up to 11-week low after the US economy has added more jobs than expected in May, increasing the case of the Federal Reserve to raise interest rates in the United States.

On Thursday, rices of gold for delivery in August hit an intraday low of $1,176.30, on fueling concern that a strong job market keeps the Fed on the way to raise interest rates this year.

Payrolls rose from the most within five months and the payment of worker accelerated, the Labor Department data showed on Friday.

US gold futures for delivery in August dropped 0.8 percent to $ 1165.70 an ounce on the Comex in New York. Prices hit $ 1164.20, the lowest since March 19.

On Friday Prime Minister Alexis Tsipras, facing the outrage among supporters leftist, demanded changes in the harsh terms of international creditors to avoid bankruptcy help.

The IMF said Athens had told the global lender who plans bring together four payments due in June in one lump sum € 16 billion, which is now due on June 30.

That was the first time in five years of the crisis that Greece did delayed a refund on their € 240 billion bailout of governments to the Eurozone and the IMF, and came as German Chancellor Angela Merkel said negotiations on an agreement money for renovations still far from meeting an agreement.

India Ratings and Research (Ind-Ra) on Friday had a negative outlook on domestic gold prices for the fiscal year 2015-16 and said rates tend to refuse to touch Rs 20,500 per 10 grams in India from current levels, if the effects of the US Federal Reserve a rate hike.

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