Gold Futures Drop as Payrolls in U.S. Surge by Most Since 2012
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Gold slumped after the U.S. added the largest number of jobs in almost three years, fueling concern that the Federal Reserve will move closer to raising interest rates. Silver declined.
Prices for gold options betting on a rally tumbled, and the metal’s 60-day historical volatility climbed to the highest since March. The dollar rose to the highest since 2009 against a basket of currencies, cutting the appeal of bullion as an alternative asset.