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1st LD Writethru: Gold falls ahead of U.S. jobs report

Xinhua, March 4, 2015 Adjust font size:

Gold futures on the COMEX division of the New York Mercantile Exchange fell on Tuesday ahead of a U.S. jobs report due out on Friday.

The most active gold contract for April delivery fell 3.8 U.S. dollars, or 0.31 percent, to settle at 1,204.40 dollars per ounce.

Gold was put under pressure as traders and analysts believe that the U.S. jobs report due out on Friday is likely to be positive considering recent positive releases of U.S. data.

Analysts say that continued positive jobs reports make it more likely that the U.S. Federal Reserve will raise interest rates sooner rather than later, and some analysts point to a recent desire to raise interest rates in June.

Traders will also look to U.S. jobless claims on Thursday to measure exactly how good or bad Friday's Department of Labor employment situation report will be.

Silver for May delivery fell 15.50 cents, or 0.94 percent, to close at 16.296 dollars per ounce. Platinum for April delivery lost 0.30 dollars, or 0.03 percent, to close at 1,189.60 dollars per ounce. Endite