Gold futures closed lower in the local market on Friday following a stronger-than-expected payrolls report that might provide the Fed Reserve evidence to lift benchmark interest rates sooner than later.Stocks also vaulted up after the employment Q4 was released, signaling fading demand for havens and a spike in risk appetite.
At the MCX, Gold futures for August 2016 contract closed at Rs 31,090, per 10 gram, down by 1.68 per cent after opening at Rs 31,600, against the previous closing price of Rs 31,620. It touched the intra-day low of Rs 30.674.
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