Market Outlook- Gold tumbled 3 percent!

English: A 250kg gold bar in the Toi gold mine...

English: A 250kg gold bar in the Toi gold mine

Gold tumbled 3 percent on Friday after positive U.S. jobs data sent the dollar rallying and rekindled worries the Federal Reserve could be tempted to scale back its monetary stimulus later this year. The U.S. non-farm payrolls report for June showed employers added 195,000 new jobs last month, exceeding expectations of 165,000. The unemployment rate held steady at 7.6 percent.

Today’s Key Headlines

1)  Gold Market to Keep Focusing On Fed Expectations, Also Eye Egypt, ETF Flows
2)  Mideast aluminum industry in advantageous position
3)  Better-than-expected US jobs data reignite stimulus worry
4)  Dollar rally, ECB hints at lower rates hit gold further
5)  China Metal Futures Volumes Slump as Super Cycle Fades
6)  Brazil Sugar-Cane Use for Fuel Seen by Datagro above Outlook

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