Gold futures settled lower on Thursday as stronger than expected US job data reiterated chances for an earlier-than-expected rate hike by the Federal Reserve. US weekly jobless claims declined to a 20-month low level. Strengthening US Treasury Bond yields also dented investment appeal of the bullion.
Gold futures for December dipped by 0.5% or $8.8 to settle at $1861.40 an ounce on the Comex division of the New York Mercantile. Spot gold shrunk 0.4% to $1,858.76 per ounce.