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Gold futures fell from the highest in almost 11 months after the unemployment rate in the U.S. unexpectedly dropped, easing pressure on the Federal Reserve to expand monetary stimulus. Silver also slid.
The jobless rate in September declined to 7.8 percent from 8.1 percent, government data showed today. Earlier, gold reached a 10-month high close to $1,800 an ounce on speculation that stimulus programs in the U.S., Europe and Japan enhanced the appeal of the metal as an alternative to currencies.
In India - the world's largest consumer of gold - an increased demand in the physical market by strengthening rupee, which caused lower domestic prices to a minimum of five weeks.
Stocks of gold-ETFs ETF on Thursday rose by 418,611 ounces, and the stocks of the largest ETF SPDR Gold Trust rose to a record level 1.333,44 tons.
October futures price of gold on COMEX today dropped to 1780.7 dollars per ounce.
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