Gold futures for August delivery declined for the third day Tuesday, hitting $1,177.30 an ounce in early trading on the Comex in New York.
U.S. Federal Reserve Mining News
The precious metal has lost over 8% so far this year.
Gold for April delivery on the Comex division of the New York Mercantile Exchange was last at $1,184.20 per ounce, or about $12 below where it was before the report was released.
Gold hit a five-month low in the wake of the jobs report, but recovered quickly climbing 4.8% to 1,230.
President Obama has reportedly made his choice for the next Federal Reserve's chairman.
The marginal economic strength that was described in the most recent GDP release from Washington has caused many to double down on their belief that the Federal Reserve will begin tapering Quantitative Easing sometime later this year.
Growing concerns over the US Federal Reserve cutting back its stimulus program as soon as next month, triggered Wednesday a selloff in world shares and drove precious metals down.
He says the central bank's easy-money policies are still necessary.
Increasing fears that the Fed is planning to halt bond-buying scheme dent gold's appeal.
Gold fell abruptly this morning, pushed by a rising dollar after data showed the U.S. economy created more jobs than expected over the last three months, decreasing prospects the Federal Reserve will keep interest rates low for an extended period.
Last week in the game of world monetary poker, the ECB raised the limit. Now the Federal Reserve will have to demonstrate it has what it takes to play poker with the big boys.
Not in many decades has a mainstream American business publication reminded readers that some innovative thinking has occurred in the field of economics since the British Socialist Keynes introduced his ideas for government control of economic activity.