2nd December 2013
Gold prices have fallen for the first time in three sessions today (December 2nd), amid speculation the US non-farm payrolls (NFP) report for November will encourage the Federal Reserve to begin scaling back its quantitative easing programme.
Speculation regarding the potential end of the central bank's stimulus package has caused bullion to slump by more than 26 per cent over the course of the year.
The consensus estimate suggests the NFP report, released on Friday, will show the US economy added 183,000 new jobs last month. This would follow a 204,000 gain in October, leaving the country on course to record its largest annual gain in payrolls since 2005.
Gold for February settlement declined by 0.4 per cent to $1,245.40 per ounce on the Comex in New York, while bullion for immediate delivery was 0.6 per cent lower at $1,245.87 per ounce.
The precious metal shed 5.3 per cent in November, its largest single-month drop since June.
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