Gold Dips to $1,213 an Ounce After US Jobs Report

Gold prices fell Wednesday after a better-than-expected US jobs report came out, causing more concern over the future of the Federal Reserve’s stimulus program.

The precious metal again slumped near five-month lows today, according to Reuters. Gold sank to $1,213 an ounce after the ADP jobs report was released. More job numbers are expected Friday, which could give investors more insight on the Fed’s next move.

Later in the session, gold futures for February delivery rose $4 to $1,225 an ounce, Kitco News reported, while spot gold prices increased $1.50 to $1,226.25 an ounce.