Gold falls from seven-week high after positive US jobs data

CNBC/Michael Sheetz/08-4-17

Gold fell on Friday after hitting a seven-week high earlier this week, as the dollar rose from multi-month lows, after monthly U.S. non-farm payrolls data was better-than-expected.

…Limiting losses in gold was escalating political turmoil in Washington which has cooled expectations for growth and inflation, and boosted safe haven assets like the precious metal.

News broke late Thursday that U.S. special counsel Robert Mueller has impaneled a grand jury in Washington to investigate allegations of Russia’s interference in the 2016 presidential elections.

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