RTRS: Gold recovers from 4-1/2 month low after U.S. data
(Reuters) - Gold prices pared losses on Friday, lifting off an earlier 4-1/2 month low, after data showed the pace of hiring by U.S. employers eased slightly in December while the unemployment rate crept up.
U.S. policymakers have tied the scope of further gold-friendly monetary stimulus measures to an improvement in the unemployment rate. The dollar pared gains against a currency basket after the data, also helping gold.
Spot gold was at $1,637.90 an ounce at 1340 GMT, down 1.5 percent but off an earlier low of $1,625.72 an ounce, its weakest since August. U.S. gold futures for December delivery were down $36.80 an ounce at $1,637.80.
