Gold prices fell from their lofty perches on Friday after hitting seven-week highs earlier this week, as the American dollar rose from multi-month lows, after monthly U.S. non-farm payrolls data was better-than-expected.
Spot gold hesitated just over 1% to $1,255.07 U.S. per ounce. It traded nearly flat at $1,268.61 U.S. per ounce before the report.
U.S. gold futures for December delivery had fallen 1% to $1,261.10 U.S. per ounce.
Figures released by the U.S. Labor Department showed the stateside economy added 209,000 jobs in July, lowering the unemployment rate to 4.3%. Economists had expected the report to show growth of 183,000 with the jobless rate ticking down to 4.3%, the lowest since March 2001.
Politics has played its role as well: U.S. Special Counsel Robert Mueller has convened a grand jury investigation in Washington to examine allegations of Russian interference in the last year's election and has started issuing subpoenas
What is more, the Republican Party's repeated failures to overhaul the health-care system and multiple congressional and federal investigations into President Donald Trump's campaign have cast a shadow over his first six months in office.
Elsewhere among precious metals, silver took a 2.2% drop to $16.241 U.S. per ounce, having hit a one-week low of $16.39 U.S. Platinum bumped up 0.2% to $962.40 U.S. per ounce while palladium fell 0.7% to $878.30 U.S. per ounce.
