Gold prices shrink their profits amid the strength of the US labor market

Gold prices have reduced their profits amid the rise in the dollar and the returns of treasury bonds after the US postal report, which grew stronger than expected. In December, the US economy has added the largest number of posts since March, and the unemployment rate has fallen unexpectedly, which has crowned another year of the strength of the labor market, according to the report of the Work Statistics office released today, Friday. The job report confirms the argument of the Federal Reserve officials that the US Central Bank will use a more cautious approach to lower the borrowing costs in a labor market that is still strong, as well as firm inflation. High interest rates are usually pressure on gold that does not deliver yields on its possession. Gold fell 0.1% in immediate transactions after the data was released, and the price rose 0.1% to 2670.84 dollars per ounce at 08:39 in New York.