Gold falls to eight-week low after NFP

Author: Adam Button | Category: News

Gold dropped to $1695 after the non-farm payrolls report.

The US dollar was broadly stronger following the release and that’s weighing on commodities. The Fed is also growing less likely to increase QE3 or expand it to Treasuries.

The lows match the 50% retracement of the gain since mid-August and the early-September lows.