Gold futures turned modestly lower Friday, erasing gains as the dollar rallied in the wake of the July U.S. jobs report. Gold futures for December delivery fell 5.60, or 0.5%, to $1,084.70 an ounce. Gold was up by around $1.20 an ounce ahead of the data. The Labor Department said the U.S. economy added 215,000 jobs in July, a number slightly below the consensus forecast for a rise of 220,000 but not seen as weak enough to derail a potential Federal Reserve rate hike as early as September. The dollar strengthened after the data, weighing on gold and other dollar-denominated commodities.
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