Gold slides on rate hike fears after strong US jobs data

New York

GOLD fell more than one per cent on Friday after US March payrolls data beat expectations, allaying some fears about the US economy and stoking speculation about the timing of likely interest rate hikes by the Federal Reserve this year.

US employers added 215,000 jobs in March, the payrolls report showed, against expectations for 205,000. US interest rate futures suggested traders are now betting the Fed will next raise rates as soon as November, versus December ahead of the report.