Otmane El Rhazi from
The Bullion Desk.
- The gold price slumped to a three-week low below $1,250 in Friday afternoon London trading after US jobs data came in stronger than forecast.
- The US created 257,000 new jobs in January, surpassing the predicted 236,000, although the unemployment rate rose to 5.7 percent from 5.6 percent.
- The figures will add to the prospect of a near-term rise to US interest rates, which have been near-zero since 2008.
- Slack in the US labour markets, static inflation and concerning world growth prospects had weighed on earlier expectations that the Fed would look to raise interest-rates from near-zero levels around the middle of this year.
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