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Gold prolonged its fall and silver fell, after a stronger-than-expected US jobs report fueled bets that the Federal Reserve may soon start cutting its massive monetary stimulus.
Spot bullion fell more than 4% and silver fell as much as 7% following Friday’s sale employment figures initially accelerated at the start of Asian trade. Dallas Fed Chairman Robert Kaplan says central bank should start reduce its asset purchases as soon as possible, and gradually, fueling expectations of a slowdown in the recovery.
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