LONDON Feb 3 (Reuters) – Gold prices extended losses
on Friday and were down 1 percent after forecast-beating U.S.
non-farm payrolls data dented expectations that the world’s
biggest economy would further extend its loose monetary policy.
Gold has benefited this year from expectations that the
Federal Reserve will keep U.S. interest rates lower for longer
and might consider another round of quantitative easing. Signs
of strength in the U.S. economy make that less likely.
Spot gold was down 0.9 percent at $1,744.71 an ounce
at 1454 GMT, having fallen as low as $1,741.59. Earlier it
peaked at $1,762.90, its highest since mid-November.
(Reporting by Jan Harvey, editing by Jane Baird)
© Thomson Reuters 2012 All rights reserved
