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Reuters
Gold slumps over 4% as tapering bets buoy dollar
Gold fell to its lowest in more than four months, dropping as much as 4.4% at one point on Monday, as the dollar rallied after strong U.S. labour data bolstered expectations for early tapering of economic support. Spot gold was down 0.9% at $1,746.80 per ounce at 0837 GMT. While the market may have over-reacted to the jobs data, sentiment in bullion remained bearish for now, said Carlo Alberto De Casa, market analyst at Kinesis.
