(MENAFN- ProactiveInvestors)Gold was trading lower again as better-than-expected US jobs data knocked the metal. Non-farm payroll figures showed the US economy generated 280000 new jobs in May the biggest gain since the end of 2014 as most industries added workers after a slowdown in hiring earlier in the year. The news led investors to wonder whether the Federal Reserve will raise interest rates sooner than expected although some see a rise this month as off the table. Paul Ashworth chief US economist at Capital Economics said he thought a move would come before December but was not imminent. 'Overall at this stage this evident strength in the labour market probably isn't enough to persuade the Fed to hike rates by July but it definitely makes September probable' he said. Conversely Christine Lagarde the International Monetary Fund's managing director said: 'We think a rate hike would be better off in 2016.' If the Fed does raise rates before the year everything being equal gold will be less attractive than interest yielding bonds and stocks. Gold dropped US$11 to US$1165. Elsewhere silver eased 0.7% to US$15.99 while platinum dropped almost 1% to US$1089. Major Movers Anglo American up 15p to 1020p Randgold Resources flat at 4591p Fresnillo down 3p to 721p.
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