Gold prices drifted lower on Friday as the dollar moved up amid rising prospects of aggressive rate hikes by the Federal Reserve after data showed a stronger than expected growth in U.S. non-farm payroll employment in the month of May.
Hawkish comments from Fed Vice Chair Lael Brainard weighed on gold prices earlier in the day. Brainard told CNBC it's "very hard to see the case for a pause" in rate hikes and the central bank still has "a lot of work to do to get inflation down to the 2 percent target."
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