Gold futures closed lower in the international market on Friday as the dollar jumped after a key report on payrolls in July showed stronger-than-expected job creation.
The U.S. labor market added an impressive 209,000 new jobs in July, more than most economists were banking on. The unemployment rate fell back to a 16-year low of 4.3%.
The data rallied stocks and the dollar index, dulling demand for gold, which tends to move inversely to the greenback.
A cheaper dollar is beneficial to precious metals investors using weaker currencies. Both markets are affected by interest-rate policy, as higher rates support the dollar but also dull the appeal of nonyielding metals in favor of interest-bearing assets.