London: Gold today held below an almost two-week high as traders awaited a speech from Federal Reserve Chair Janet Yellen after US jobs data dashed speculation that interest rates would increase soon. Gold lost 0.3 per cent to USD 1,241.10 an ounce. It jumped 2.7 per cent on Friday and is up 17 per cent this year. The metal was little changed after rallying the most since February on Friday when a report showed the US economy created the fewest jobs last month in almost six years, weakening the dollar. The metal dropped as much as 8 percent since May 2, when it reached the highest in more than a year, as speculation grew that the economy is strong enough to allow higher borrowing costs, curbing the appeal of assets that don’t pay interest.
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