Weekly Fundamentals - Strong US Job Report Lifted Rate Hike Hopes, Gold Lowered

Better than expected US job data lifted speculations of Fed funds rate hike. This in turns triggered selloff in gold price. Nonfarm payrolls added +255K in July, beating consensus of a +175K increase, while June's gain was revised higher to +292K. The unemployment rate stayed unchanged at 4.9% in July with the participation rate edging higher to 62.8%.

from Oil N' Gold Focus http://www.oilngold.com/ong-focus/insights/weekly-fundamentals-strong-us-job-report-lifted-rate-hike-hopes-gold-lowered-2016080733390/