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Gold extended its losses on Friday after stronger-than-expected U.S. jobs data bolstered expectations of a December rate hike. Spot gold fell 1.1% to $4,043.78 an ounce, while futures dropped 1.5% to $4,052.30. The economy added 165,000 jobs in October, compared with forecasts of 65,000, and the odds of a 25-basis-point rate increase rose to around 75%. Despite the day’s decline, gold remained on track for weekly gains of more than 4%, supported by falling oil prices.
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