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Gold Retreats Ahead Of Jobs Report, Fed Decision

Gold futures continued to fall Thursday ahead of tomorrow's crucial U.S. jobs report.

Gold was down $8 at $1257 an ounce, the lowest since the summertime.

In another prelude to Friday's monthly jobs report, initial U.S. jobless claims, fell by 2,000 to 236,000 in the seven days ended Dec 2. Economists forecast claims of 240,000.

Yesterday data showed employment in the U.S. private sector increased by slightly more than expected in the month of November, according to payroll processor ADP.

The Federal Reserve is expected to raise interest rates next Wednesday.

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