Gold falls after big 5-day rally as China calms markets

GOLD futures fell, snapping the biggest five-day rally in almost a year, as a buoyant US labour market and China's moves to halt a rout in stocks cut demand for a haven. The Chinese authorities suspended a controversial circuit-breaker system, set a higher yuan reference rate and directed state-controlled funds to buy shares. Gold extended declines after a report showed US payrolls rose more than expected in December, boosting the dollar and reducing demand for an alternative investment.

"Calmer markets…