(Reuters) - Gold fell on Friday after data showed the pace of U.S. job creation had been far better than expected for the last three months, boosting the dollar and cutting the chances for more bullion-supportive monetary policy measures.
Spot gold fell 0.6 percent to $1,690.06 an ounce by 1337 GMT, down from an intraday high of $1,706.41, as the dollar rose against a basket of currencies, making it more profitable for non-U.S. investors to sell their dollar-priced bullion holdings.
The U.S. government said employers added 227,000 jobs to their payrolls last month, while the unemployment rate held at a three-year low of 8.3 percent. The economy created 61,000 more jobs in December and January than previously thought.
Gold has risen by more than 8 percent this year, fueled in part by expectations for further measures by the U.S. central bank to keep monetary policy loose to bolster the economy. A strong labor market could lessen the chances of such measures.
(Reporting by Amanda Cooper; editing by Jason Neely)
