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March 07, 2014 AT 5:43 AM
Stronger-than-forecast growth in U.S. employment last month knocked gold futures lower Friday, with the data seen as an excuse by some traders to book profits on long positions. The market focused on the increased number of jobs reported by the Labor Department more-so than a small uptick in the jobless rate itself. Gold for April delivery was down $16.70, or 1.2% on the Comex division of the New York Mercantile Exchange.